Kodiak AI Inc. (NASDAQ:KDK) shares are trending on Friday.
Check out the current price of KDK stock here.
After-Hours Stock Spike
Shares of the autonomous truck manufacturer rose by 2.2%, reaching $6.98 during after-hours trading on Thursday, gaining $0.15 from the day’s closing price.
This increase came after a turbulent year for the Kodiak AI, which is still down 37.8% since the start of the year. Its stock has fluctuated between $5.77 and $11.62, with a current market capitalization of $1.24 billion and a price-to-earnings ratio of 26.14.
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Soros Fund Management Files 5.7% Stake
The after-hours spike followed a recent Schedule 13G filing from October 1, which revealed that Soros Fund Management LLC, led by George Soros, is a 5.7% beneficial owner of Kodiak AI's common stock. The filing showed that the fund holds shared voting and investment authority over 9,967,978 shares.
Details Behind the Stake
The Schedule 13G, filed under Rule 13d-1(c), confirms that Soros' holdings are not meant to influence or control Kodiak AI.
The filing calculates the ownership based on Kodiak AI's 174.96 million outstanding shares, excluding sponsor earnout shares that are still pending vesting.
The Californian company recently completed its $2.5 billion SPAC merger with Ares Acquisition Corporation II, raising $275 million and beginning Nasdaq trading on September 25, 2025.
Kodiak AI, formerly Ares Acquisition, recently completed its $2.5 billion merger with Kodiak Robotics and debuted on Nasdaq under the ticker symbols "KDK" and "KDKRW." This merger was backed by George Soros and Cathie Woods.
Price Action: According to Benzinga Pro data, KDK closed at $6.83 on Thursday
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
