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MW Nvidia discloses positions in SoundHound AI, Arm - and these other stocks
7:16 PM ET 2/14/24 | MarketWatch

By Emily Bary

SoundHound's stock roars after Nvidia reveals position worth about $3.7 million as of the end of last year

Investors were getting a peek Wednesday at where fund managers have made their recent bets, as those managers released the required quarterly reports on their holdings.

But Wednesday also brought a look at investments made by some public companies, including chip powerhouse Nvidia Corp. (NVDA), which joined those money managers in filing a 13-F after the closing bell.

That's why Wall Street seemed to be showing a new interest in shares of SoundHound AI Inc. (SOUN), which develops speech recognition and other related technologies. Nvidia disclosed that it owned about 1.7 million shares of the AI company as of the end of December, and those were worth roughly $3.7 million as of then.

SoundHound shares were rocketing nearly 40% in after-hours trading Wednesday. The company had a market value of $576 million as of Wednesday's close.

See also: Ordering on the Chipotle app or at the Krispy Kreme drive-through? You might be talking to AI.

Nvidia's 13-F also listed investments in red-hot chip designer Arm Holdings PLC (ARM), medical-imaging developer Nano-X Imaging Ltd. (NNOX), drug developer Recursion Pharmaceuticals Inc. (RXRX) and autonomous-driving company TuSimple Holdings Inc. (TSPH).

Nvidia's position in Arm, which it previously tried to acquire, was worth $147 million as of the end of December. Its holdings in Nano-X were worth about $400,000, its holdings in Recursion were worth about $76 million, and its position in TuSimple was worth roughly $3 million at that same time.

MarketWatch previously reported on Nvidia's investment in and partnership with Recursion.

TuSimple, meanwhile, said in December that it planned to wind down its U.S. operations. Last month, the company said it intended to voluntarily delist its common stock from the Nasdaq.

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-Emily Bary

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February 14, 2024 19:16 ET (00:16 GMT)
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