To The Moon

$Serve Robotics Inc.(SERV)$ $SoundHound AI Inc(SOUN)$ $Nano-X Imaging Ltd.(NNOX)$

We can track the stocks that Nvidia buys and sells through their public filings with the U.S. Securities and Exchange Commission (SEC). As a publicly traded company, Nvidia is required to disclose certain investment details, including stock purchases and sales, in filings such as the 13F form. This form, filed quarterly by institutional investment managers overseeing over $100 million in assets, provides transparency into their holdings and trading activities.

Looking at Nvidia’s most recent filing, we can see that they previously held stocks in companies such as Applied Digital Corporation, Arm Holdings, Nano-X Imaging, Recursion Pharmaceuticals, Serve Robotics, and SoundHound AI. However, the latest filing, released just yesterday, reveals some significant changes in their portfolio. Notably, Nvidia has fully exited positions in several companies, while also adding a new one.

Companies Nvidia Has Sold Out Of

1. Serve Robotics

Serve Robotics specializes in autonomous sidewalk delivery robots for transporting food and small goods in urban areas. Originally a spin-off from Uber’s Postmates, the company focuses on efficient, sustainable, and contactless last-mile delivery. Their AI-powered robots navigate sidewalks, avoid obstacles, and operate with minimal human intervention.

Following the announcement that Nvidia had fully sold its stake, Serve Robotics’ stock dropped around 40%. The stock has shown extreme volatility, with a 52-week range between $1.77 and $37, currently trading around $14. Despite this, Wall Street has given it a strong buy rating (5/5).

From an earnings perspective, Serve Robotics has yet to turn a profit. Earnings per share (EPS) remain negative, with projections for December 2025 still showing losses at -$0.62 per share. Due to this, traditional valuation metrics like price-to-earnings (P/E) are not applicable. However, on other valuation measures such as enterprise value (EV) to sales and price-to-sales, the company trades at a high valuation.

Despite Nvidia’s exit, analysts maintain an optimistic outlook, setting a price target of $23, suggesting a 66% potential upside over the next 12 months.

2. SoundHound AI

SoundHound AI specializes in voice recognition and conversational AI technology, offering voice assistant solutions for industries such as automotive, hospitality, and customer service. It competes with major players like Google Assistant and Amazon Alexa.

Following Nvidia’s exit, SoundHound AI's stock dropped approximately 28%, although it remains up 386% over the past year. Currently trading in the lower range of its 52-week highs, Wall Street maintains a buy rating for the stock.

Earnings have been consistently negative, with the company missing three of its last four earnings estimates. However, EPS is expected to improve from -$0.38 last year to -$0.25 in the next period.

In terms of valuation, SoundHound AI trades at a premium compared to its sector. While companies with high growth potential often command a higher valuation, the extent of this premium is a point of consideration. Revenue growth is strong at 76% year-over-year, with projections of 74% moving forward. Despite this, the company continues to burn cash, with a negative cash flow of $90 million.

Analysts have set a price target of $24 over the next year, indicating a potential 119% upside.

3. Nano-X Imaging

Nano-X Imaging develops innovative medical imaging technologies, including digital X-ray systems designed to improve diagnostic imaging while reducing radiation exposure. The company aims to make medical imaging more accessible and affordable worldwide.

Following Nvidia’s sale, Nano-X Imaging's stock fell by 11%. Over the past year, the stock has only gained 6% and is currently trading at the lower end of its 52-week range. Interestingly, Wall Street has given it a rare strong buy rating (5/5).

The company has a mixed earnings record, with a 50% success rate over the past year. However, three of the next four quarters are expected to show growth, albeit with an overall negative EPS projection of -$0.71 for 2025.

Nano-X trades at an extremely high valuation—its price-to-sales ratio is nearly 900% above the sector average. Revenue growth is expected to be strong at 52% next year, significantly outpacing the sector’s 6.8%. However, profitability remains a concern, with a negative gross margin of -88% and ongoing cash burn.

Analysts have set a 12-month price target of $15, forecasting a 128% potential upside.

Company Nvidia Has Added

Nvidia has initiated a new position in WeRide Inc., a China-based autonomous driving company specializing in Level 4 self-driving technology for Robo-taxis, Robo-buses, and autonomous delivery vehicles. The company uses AI and advanced sensor fusion to enhance transportation safety and efficiency.

Following Nvidia’s investment, WeRide’s stock surged 84% year-to-date and is up 122% overall. The stock is trading in the upper half of its 52-week range, with Wall Street rating it a buy.

Financially, WeRide is in its early stages, with no reported earnings yet. The company expects negative EPS of -$0.36 for this year and revenue of $141 million in 2025, a significant increase from $62 million in the previous year. Like many early-stage AI companies, it trades at a substantial premium.

Analysts have set a price target of $22, suggesting a potential downside of 31%, making it the first company covered today with a projected decline.

Companies Nvidia Continues to Hold

• Applied Digital – A data center company focused on AI, cloud computing, and blockchain applications.

• Arm Holdings – A semiconductor giant known for energy-efficient chip designs used in mobile devices, data centers, and AI applications.

• Nebius Group – A cloud infrastructure provider specializing in AI workloads, spun off from Yandex.

• Recursion Pharmaceuticals – A biotech firm using AI and machine learning for drug discovery.

Conclusion

Just because Nvidia is selling certain stocks doesn't necessarily mean they are poor investments—it may simply reflect portfolio rebalancing. Many of the companies discussed today remain high-growth plays, speculative company, though they come with significant valuation risks and cash burn.

Disclaimer: I want to make it clear that I am not a financial advisor, and nothing I say is intended to be a recommendation to buy or sell any financial instrument. Additionally, it's important to remember that there are no guarantees or certainties in trading or investing, and you should never invest money that you can't afford to lose.

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