Meet the Artificial Intelligence (AI) Stock That Just Soared 225% Thanks to Nvidia
Nvidia's graphics processing units (GPUs) for data centers are used to develop the most advanced artificial intelligence (AI) models in the world, placing the company at the forefront of this new technological revolution.
Nvidia has consistently delivered triple-digit growth in its revenue over the past year, catapulting the company to a whopping $2.9 trillion valuation. Now, it's spreading some of its wealth by investing in a growing portfolio of other AI stocks, including top performers like SoundHound AI and Arm Holdings.
According to a July 18 regulatory filing, Nvidia just converted a promissory note to acquire over 1 million shares in autonomous last-mile delivery company Serve Robotics (NASDAQ: SERV). Nvidia has now invested a total of $12 million in Serve (dating back to 2022), taking ownership of 3.7 million shares representing 10% of the entire company.
Source Fool.com
