Shares of 10 Firms Soar on Friday

1. WeRide Inc. (NASDAQ:WRD)

WeRide’s share prices skyrocketed by 83.46 percent on Friday to end the day at $31.50 each as investors gobbled up shares in the company after giant chipmaker Nvidia Corp. (NVDA) snapped up 1.7 million stocks in its stocks.

At intra-day trading on Friday, WeRide’s stock price soared as high as 146 percent to $42.24 apiece before early profit-taking pulled the company’s valuation lower towards the end of the trading session.

NVDA released its stake positions in several companies on Friday, which saw its 44-percent ownership reduction in British chipmaker Arm Holdings, while also exiting Serve Robotics and SoundHound AI.

Meanwhile, WeRide uses NVDA’s advanced graphic processors and AI software to power its vehicles, pushing its market capitalization to $4.71 billion as of the market close.

According to an analyst from Triple D Trading, “There is no greater vote of confidence than Nvidia taking a stake in your company.”

While we acknowledge the potential of WRD as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than WRD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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