Nvidia Bought 5 AI Stocks, But This One Is Rising Most.

Global chip giant Nvidia (NASDAQ: NVDA) recently passed a $2 trillion value, making it one of America's most valuable corporations by market cap. Only Microsoft and Apple are more valuable.

Most of Nvidia's market cap has grown in the last year due to its AI-processing data center chips. CEO Jensen Huang, the "Godfather of AI" according to Wall Street experts, is investing in other AI businesses to spread his company's success. Nvidia disclosed five AI stock purchases in the fourth quarter of 2023 (ending Dec. 31) in its first 13-F filing with the SEC on Feb. 14:

(Arm Holdings assists the world's biggest semiconductor  businesses design and produce innovative computing devices. Nano-X Imaging employs AI to improve medical imaging efficiency and patient outcomes.

Recursion Pharmaceuticals, transforming drug discovery using AI. Tusimple Holdings develops innovative trucking autonomous self-driving technologies. Voice recognition and conversational AI developer SoundHound AI

The largest investment was Nvidia's $147.3 million stake in Arm Holdings last year. Arm's 104% increase in 2024 ranks second among the five stocks.

That race is won by SoundHound AI. The company is worth $1.5 billion after its stock rose 180% year-to-date. Nvidia's stake is worth $10.1 million at SoundHound's stock price ($5.83), yet investors are still buying. Is it too late to follow Nvidia?

SoundHound's conversational AI understands voice and replies, unlike many generative AI programs that use text prompts to create text, image, and video content.

SoundHound serves major hospitality and automobile companies. Restaurants use conversational AI to collect in-store and drive-thru orders and handle phone calls, reducing labor effort. That area has several SoundHound clients, including Krispy Kreme and Jersey Mike's.

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