How Nvidia came to hold about $380,000 worth of its shares, though, isn’t what most investors might expect. Back in 2017, Nvidia reported a stake in Zebra Medical, an Israeli-based startup focused on using artificial intelligence to read medical images. Four years later, Nano-X acquired Zebra in an all-stock deal. That resulted in Nvidia’s receiving shares in Nano-X in return for its Zebra stake.
“The market is presuming that Nvidia consciously purchased” the stake in Nano-X, John Hempton, chief investment officer at Bronte Capital Management, wrote in a post on Substack Thursday. “Nvidia did not consciously choose to buy Nano-X stock.”
Nano-X shares lost as much as 9.5% in postmarket trading on Friday, after closing 36% higher.
The chipmaker made the disclosures in a 13-F regulatory filing, required for institutional investors whose portfolios exceed $100 million. Nvidia likely crossed that threshold at the end of last year after a company it owns a stake in, Arm Holdings Plc, went public.
Nvidia declined to comment on its Nano-X stake when contacted by Bloomberg News.
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Looks like a bottom of $5 has been put in and OBV has turned back up.
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