Chinese Startup WeRide’s Stock Zooms To Record High After Nvidia Discloses $25M Stake: Retail Can't Be Happier

Guangzhou-based WeRide develops autonomous driving technologies ranging from Level 2 to Level 4 for applications like robotaxis, robovans and robosweepers.

Shares of WeRide Inc. (WRD) surged nearly 80% to a record high on Friday afternoon, fueled by news that AI chip leader Nvidia has taken a stake in the autonomous driving startup.

A recent SEC filing revealed that Nvidia owned 1.7 million shares of WeRide, valued at about $25 million as of the end of December. 

The disclosure sparked a frenzy of bullish activity on Stocktwits, where both sentiment and message volume hit lifetime highs (100/100). 

Retail traders were abuzz with excitement, with many discussing potential resistance levels after the massive rally.

Founded in 2017 by Tony Xu Han and Yan Li, Guangzhou-based WeRide develops autonomous driving technologies ranging from Level 2 to Level 4 for applications like robotaxis, robovans, robosweepers, and advanced driver-assistance systems.

Last month, JPMorgan initiated coverage on WeRide with an ‘Overweight’ rating, calling it the world’s first autonomous driving company with operations in 30 cities across nine countries in Asia, the Middle East, and Europe. 

The research firm said WeRide is well-positioned to benefit from global adoption of self-driving tech over the next three to five years.

Last year, WeRide partnered with Uber to introduce autonomous rides in the UAE. The company also launched its Robosweeper S6 and S1 in Singapore, marking the city-state’s first commercial autonomous sanitation project.

WeRide's stock have more than doubled year-to-date.

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