InterDigital, Inc. (NASDAQ:IDCC) experienced a significant surge in its stock price following the announcement of license renewals with Samsung, LG, and Panasonic. The company, based in Wilmington, Delaware, specializes in developing wireless communication technologies and acquiring wireless and video patents. InterDigital's stock closed at $98.98 per share on November 20, 2023, with a one-month return of 26.30% and a 52-week gain of 100.69% [57bde4f5]. The FPA Queens Road Small Cap Value Fund, in its Q3 2023 investor letter, praised InterDigital's performance and licensing renewals. The fund, which holds InterDigital in its portfolio, returned -2.25% in Q3 compared to the Russell 2000 Value Index's -2.96% return. Year-to-date, the fund has returned 2.57% compared to the index's -0.53% return. InterDigital is held by 24 hedge fund portfolios [57bde4f5].
In addition to the positive news for InterDigital, the article also mentions other developments in the field of artificial intelligence (AI). These include the potential reinstatement of Sam Altman as CEO of OpenAI, the interest in AI stocks by top money managers, and Nvidia's upcoming earnings report [57bde4f5].