Investors can’t get enough of Nvidia (NVDA). Now, the company is spreading that love to other stocks.
On Wednesday night, an SEC filing revealed the chipmaking giant held investments in the stocks Arm Holdings (ARM), SoundHound AI (SOUN), and biotech company Recursion Pharmaceuticals (RXRX) as of Dec. 31, 2023.
All three of the AI-related stocks popped on the news. Arm, whose stock was already up more than 80% in the last month after the company attributed its better-than-expected revenue expectations to AI initiatives, saw was up more than 6% on Thursday afternoon. Recursion’s stock rose almost 15%.
Meanwhile, SoundHound, a smaller player that specializes in voice AI and speech recognition, saw a huge gain. The stock was on track for its best day ever at the open, popping about 80% before paring gains to nearly 60% on Thursday afternoon.
Still, the massive price move in SoundHound,…
