AI firms rise after Nvidia discloses stake

Nano-X Imaging

15/02/2024 15:47

(Updates)
    ** Shares of small AI firms rally after the world's most
valuable chipmaker Nvidia  NVDA.O  discloses stake in some of
them
    ** Shares of SoundHound AI  SOUN.O  rally 51.3% to $3.41
after NVDA discloses stake worth around $3.7 mln in SOUN, which
offers voice AI for businesses
    ** Other smaller AI stocks C3.ai  AI.N  up 3.2% and
BigBear.ai  BBAI.N  add 5.2%
    * Arm Holdings ADRs  ARM.O   O9Ty.F  rise 1.1% after Nvidia
reveals stake worth $147.3 mln
    ** Recursion Pharma  RXRX.O  rises ~10% as NVDA reveals
stake of around $76 mln in the drug developer, which
strengthened its AI focus last year by snapping up two companies
in the AI-driven drug discovery space
    ** Nvidia's other latest investment includes a stake worth
nearly $380,000 in Israel-based medical imaging tech provider
Nano-X Imaging  NNOX.O  and $3.04 mln stake in autonomous
driving technology co TuSimple Holdings  TSPH.PK  
    ** NNOX shares rise 63% to $10.36

 (Reporting by Sruthi Shankar and Mariam Sunny in Bengaluru)
 ((sruthi.shankar@thomsonreuters.com;))