Nio was up over 2% in premarket trading
$NIO Inc.$ was up over 2% in premarket trading. Days ago Nio subsidiary buys stake in chipmaker amid crippling global semiconductor shortage.What Happened: The move comes after Cambricon said Friday it has agreed to increase the registered capital of its wholly-owned subsidiary Cambricon Xingge by 170 million yuan and bring in investors, as per the report.Nio’s subsidiary Weiran Investment Co. Ltd. acquired a 2% stake in Xingge for RMB 4 million .Weiran is wholly owned by XPT, NIO's motor bus