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Why WeRide Stock Is Skyrocketing Today

TheMotleyFool

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WeRide (NASDAQ: WRD) is shooting to the moon in Friday's trading. The China-based autonomous driving company's share price was up 81% as of 1 p.m. ET and had been up as much as 146% earlier in the session.

WeRide's valuation is surging after artificial intelligence (AI) hardware leader Nvidia revealed in its new 13F filing that it purchased roughly 1.74 million shares of the Chinese company's stock in the fourth quarter.

As of this writing, Nvidia's position in WeRide is worth roughly $58 million. In the context of Nvidia's roughly $3.35 trillion market cap, that's a small investment.

Source Fool.com

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