On February 18, local time, three major U.S. indexes opened slightly lower and then diverged trends. Chinese concept stock WeRide (stock code:WRD) surged once again, reaching a high of $44 per share, an increase of almost 40%. The company’s market value is now over $11 billion and its stock price has reached $40.
WeRide’s intraday surge was 140% last Friday. Multiple trading halts were made before the 83.46% gain. In just two trading sessions, WeRide’s value has doubled.
Recent filings by NVIDIA, (stock code “NVDA”) to the U.S. SEC, show that the company will hold 1.7386 million American depositary shares (ADS) worth $24.6528 millions as of December 31, 2024.
This investment was made back in September 2017, when WeRide had not yet been listed. It was then known as JingChi Technology and was only a few months old. It disclosed receiving a Pre-A round financing of $52 million led by Renault-Nissan-Mitsubishi Alliance with follow-on investment from NVIDIA GPU Ventures.
TuSimple, which focuses on autonomous trucks, was one of the two companies that NVIDIA invested in at the time. TuSimple is now being privatized, delisted and undergoing business transformation.
WeRide and NVIDIA’s collaboration goes beyond capital investments to include business activities. WeRide offers more landing scenarios to NVIDIA’s solutions and chips. WeRide’s latest generation of autonomous driving systems is believed to use NVIDIA chips. As early as March last year, WeRide announced a strategic partnership with Lenovo Car Computing to jointly create an L4-level autonomous driving solution based on the NVIDIA DRIVE Thor platform AD1 ultra-high-performance domain controller.
WeRide, according to public information, was founded in 2017 and has been conducting research, testing and operations of autonomous vehicles in 30 cities in 9 countries for almost 1900 days. It is the only company in the world with autonomous driving licenses simultaneously in China, the United States of America, UAE (United Arab Emirates), Singapore, and the UAE.
SEE OTHERWISE: WeRide to Launch New Generation of Robotaxis on October 15th,
WeRide, the first global general purpose autonomous driving company stock, was listed on the NASDAQ Stock Exchange on October 25th of last year. Robotaxi became the first global stock.
WeRide has successfully completed ten financing rounds since its establishment in 2017. Investors include GAC Group, Bosch, IDG Capital, Qiming Venture Partners, and CoStone Capital. They have raised over $1 billion USD.
The performance of smart-driving concept stock was further boosted by the surge in WeRide’s stock price on the capital market. Last Friday, Pony.ai’s (PONY) stock price rose by 11.3%. BYD (002594.SZ), which recently proposed “smart driving equality”saw an increase of 4.32% during trading hours on February 14th.
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