Since Nvidia went public with these stocks, their stock prices have skyrocketed

SoundHound AI (SOUN) stock has soared in value since Nvidia (NVDA) disclosed its investment in an artificial intelligence (AI) company in its 13F filing last month and was named in Nvidia’s disclosure. Stocks of several other companies are also rising.

Nvidia’s 13F, released on February 14th, means that the chipmaker will be able to use SoundHoundAI as of December 31, 2023, as well as other AI-specific products such as Arm (ARM), Nanox Imaging (NNOX), and Recursion Pharmaceuticals (RXRX). revealed that it owns shares in a company that has become These stocks have also risen since Nvidia reported investing in the company.

SoundHound AI share more than triples since Nvidia disclosure

Since Nvidia’s disclosure last month, SoundHound AI stock has more than tripled in value, reaching a market cap of $2.75 billion. Nvidia announced that it held 1.73 million shares as of the end of 2023.

SoundHound AI provides a voice AI platform that provides brands with AI-powered voice technology to improve customer experiences. The company’s customers range from White Castle, which is installing SoundHoundAI technology in fast-food restaurant drive-through lanes, to Stellantis (STLA), whose AI voice tools are integrated into some automakers’ vehicles.

The company reported a “record quarter” in its latest earnings report at the end of February, with sales up 80% year over year. After the earnings release, Wedbush analysts raised their price target on the stock from $5 to $9. The company gave the stock an “overperform” rating.

SoundHound AI stock closed 6.5% higher at $8.91 on Friday. Since the beginning of 2024, the stock price has more than quadrupled.

Arms added by 5% or more

Arm has risen more than 5% since Nvidia revealed its investment in the British chip designer. Nvidia reported that it owned 1.96 million shares of Arm stock as of December 31st.

Arm earns royalties on products made by chip companies that license their designs to make their products, and its customers include Nvidia (NVDA), Google parent Alphabet (GOOGL), and Qualcomm. (QCOM), including some of the world’s most valuable AI powerhouses such as Microsoft. (MSFT) etc.

The company has benefited from the AI ​​boom, reporting record revenue in early February.

Rosenblatt analysts said the company is “increasingly confident that royalty trends are rapidly enriching following more strategic licensing deals that are increasingly AI-centric.” . “Like Nvidia in computing GPUs, Arm’s technology is becoming essential, and will become even more important as AI continues to move to the edge,” the analysts said.

Arm shares fell 3% on Friday to $126.97, but are up more than 83% year-to-date.

Nanox Imaging earns over 80% profit

Since Nvidia revealed its investment in Nanox Imaging, the stock price has risen more than 80%. Nvidia announced that it held 59,632 shares as of the end of last year.

Nanox Imaging has developed a digital X-ray source that “can reduce the cost of imaging systems by orders of magnitude,” and is promoting “the mass deployment of imaging systems aimed at promoting early detection preventive medicine as a new standard of care worldwide.” ” is planned. Company website.

The company operates an AI division, Nanox.AI, through which it claims “the ability to use AI to highlight and identify asymptomatic, undetected chronic disease patients and initiate earlier diagnosis and preventive management. We provide solutions that provide

Nanox stock rose 7.6% to $10.78 on Friday, contributing to a more than 66% gain in 2024 so far.

Recursion Pharmaceuticals rose over 14%

Since Nvidia revealed its investment in the AI ​​biotech company, Recursion Pharmaceuticals stock has increased more than 14%, with Nvidia reporting more than 7.71 million shares as of the end of December.

The biotech company is leading the way in “deciphering biology to industrialize drug discovery” and is “leveraging advanced machine learning algorithms to span biology and chemistry unconstrained by human bias.” “We extract trillions of searchable collections of relationships from datasets.”

In its February earnings report, the company reported a year-over-year decline in revenue, but emphasized progress in scientific research.

Recursion stock rose 4% to $11.22 on Friday, supporting nearly 14% growth since the start of 2024.

NVIDIA stock was little changed on Friday, down 0.1% to $878.36. Year-to-date, it’s up more than 82%.