Happy Monday friends!

The tension is real af this morning as the market awakens after its worst week since April. With Biden’s spontaneous “I’m out” announcement yesterday, coupled with Buffett’s ditching of his 34 million shares of BofA stock…

Investors are bracing for impact to see what today’s price action brings us. 

(Source: Giphy) 

Although, I will say that as of right now, the S&P 500 and Nasdaq futures are starting off on the right foot this morning while both are up 0.50% and 0.82%. But based on how the market ended last week… we’ll see how long that lasts. 

However, as bluechips (specifically tech) felt a world of hurt after the closing bell on Friday, one little known stock was having the party of a lifetime with a massive 241% rally. 

(Source: Giphy) 

The cause? A whopping $4 million investment from none other than our favorite hyped up AI stock: Nvidia. 

“Lawed have mercay… Nvidia, again?” 

Trust me, my fingers are starting to ache everytime I type the name “Nvidia”, but with an astounding investment and a move of 241% (with immense momentum going into this morning's opening bell) this story is definitely not one to overlook.

(Source: Business Insider) 

According to SEC filings released on Thursday, Nvidia converted a $3.7 million convertible debt note into 1.05 million shares of Serve Robotics (NASDAQ:SERVE), priced at $2.42 each. This caused a rainstorm of volatility to follow in Serve’s stock price as the news resulted in a 241% explosion. 

(Source: Giphy) 

Obviously, this was nice for Nvidia considering their $3.7 million position ended up transforming into a cool $12 million by market close - but for Serve, this shot their market value up from under $100 million into over $275 million overnight. Which is not bad at all for a company that only raked in $1 million in revenue last year.

For those who are just catching wind of this robotics company, Serve Robotics was founded in 2017 - and they are all about raining on instacart’s parade. Instead of having people (who are hustlin’ to make some extra cash) deliver your good/groceries, Serve’s plan is to disrupt the market with their nifty, self driving robots. 

(Source: Supply Chain Drive) 

Of course, despite them being autonomous, they are indeed zero-emission (whew, thank God), eco-friendly, and look like they just rolled out of Elon’s favorite sci-fi movie - as they’re already making their rounds in cities like Los Angeles. 

But still, this idea isn’t technically new… or really novel in 2024. So why would Nvidia, the reigning AI champ, be interested in a delivery robot company? Well it simply comes down to fitting the puzzle pieces together. Nvidia has the AI, Serve has the robots… so by incorporating this perfect match in heaven, Serve’s robots will likely become smarter and more efficient.

(Source: InvestorPlace) 

Meaning, with Nvidia’s backing, Serve Robotics will be coming to a city near you, expanding beyond Los Angeles into places like San Diego, Dallas, and Vancouver. 

What’s interesting here, is that despite Serve’s 241% surge and Nvidia’s massive win, this isn’t the first time Nvidia has caused ripples with its investment. Earlier this year, they bought stakes in SoundHound AI and Nano X, causing their stock prices to surge. 

(Source: Motley Fool) 

For instance, in less than a month of Nvidia disclosing its stake in SoundHound, SoundHound’s stock ended up soaring to a peak of 522% while hitting a market cap of $2.75 billion. Similarly, once Nvidia disclosed its stake in Nano X, the stock soared more than 80%. 

(Source: InvestorPlace) 

So it’s clear that Nvidia is garnering some kind of “Buffett” aura when it comes to its impact in the market. And when it comes to Serve’s recent frenzy built on the backs of “Nvidia's” holy name, this stock has more than enough momentum to continue its rally. 

(Source: Giphy) 

So with that said, as the trading session kicks off this morning, take a look at Serve Robotics (NASDAQ: SERVE). We all know Nvidia is heavily involved now, and based on how explosive Serve’s price action was going into Friday’s market close…there could be more food on the table for savvy investors who know how to take advantage. 

Keep in mind though, that with the market turning on a dime like it did last week, anything can happen. So be careful out there friends. Until next time… 

Stocks.News holds positions in Uber as mentioned in the article.