WeRide minibus

Visitors look at WeRide’s driverless minibus at a trade show in China in 2023 (CFOTO/Getty Images)

WeRide or die

As Nvidia-fueled surge continues, WeRide is now worth 1/16th of Uber

Investors are buying what Nvidia is buying.

2/18/25 3:16PM

After jumping more than 80% on Friday, ADRs of WeRide pushed even higher on Tuesday, with investors continuing to hope that everything Nvidia touches turns to gold.

The Chinese self-driving car company’s stock jumped 27% in afternoon trading. Investors are piling in after Nvidia disclosed late last week that it had bought a roughly $25 million stake in the company. The continued surge on Tuesday pushed the company’s market cap to about $11 billion. That’s roughly one-sixteenth the valuation of Uber.

It’s a crazy run-up for WeRide, which was founded in 2017 and just went public in October. Until Friday, its ADRs had gone up 1% since its IPO. Now the stock has registered back-to-back increases of 83% and 27%.

On its surface, this is a company that has posted net losses for at least four years in a row with revenue that actually contracted 24% from 2022 to 2023, according to the latest data available via FactSet.

Nevertheless, investors seem to be buying what Nvidia is, well, buying.

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