NVIDIA Stake Decreases Amid Hugging Face Acquisition
NVIDIA Corporation (NASDAQ:NVDA) saw its stake in shares decrease by 13.2% in the second quarter, according to a recent SEC filing from Wellspring Financial Advisors LLC.
The institutional investor owned 92,274 shares of NVIDIA's stock after selling 14,078 shares during the quarter. This represents 0.3% of Wellspring Financial Advisors LLC's portfolio, making it their 14th largest position.
NVIDIA is a leading computer hardware maker that reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.13. The company's revenue for the quarter was up 105.9% compared to the same quarter last year.
In related news, NVIDIA's acquisition of Hugging Face gives the company access to an open-source platform that hosts millions of models, applications and datasets used by over 18 million developers. This deal is seen as a way to deepen CUDA adoption, strengthen NVIDIA's software moat, and position the company as an AI platform provider rather than solely a chip supplier.