Several smaller AI firms saw shares rise Thursday after Nvidia disclosed stake in them.
The chipmaker’s biggest investment, $147.3 million, was in chip designer Arm Holdings, whose shares dropped almost 0.5% Thursday.
However, shares of Recursion Pharmaceuticals rose 5% following news that Nvidia has invested almost $76 million in the company. Shares of conversational voice assistant developer SoundHound AI rose 50% on news that Nvidia has invested $3.7 million and shares of Nano-X Imaging, a medical device firm, rose 52% after disclosure of a Nvidia stake. The company has also invested $3 million in autonomous driving technology maker TuSimple Holdings, which delisted from the Nasdaq last week.
Experts say the move could point to Nvidia’s plans for growth, and Insider Intelligence analyst Gadjo Sevilla noted the company may set its sights on affordable, focused chipsets instead of expensive chips for general purposes.
