• SPX
  • $5,949.17
  • -0.61 %
  • -$36.21
  • DJI
  • $43,750.86
  • -0.47 %
  • -$207.33
  • N225
  • $38,642.91
  • 0.28 %
  • $107.21
  • FTSE
  • $8,085.07
  • 0.17 %
  • $13.88
  • IXIC
  • $19,107.65
  • -0.64 %
  • -$123.07

This Robotics Firm Soared 233% After Getting Nvidia’s Blessing

By Lisa Fritscher   |   Jul 24, 2024 at 04:04 PM EST   |   Tech
This Robotics Firm Soared 233% After Getting Nvidia’s Blessing

Serve Robotics (NASDAQ: SERV) stock is currently soaring, thanks to a recent disclosure that shows Nvidia owns 10% of the company. But who is Serve Robotics? Is it a smart buy? Let’s dig into what to expect from this small but mighty organization.

Who Is Serve Robotics?

Serve Robotics spun off from Uber in 2021. Originally part of Postmates, which Uber acquired in 2020, this autonomous sidewalk delivery company went public in April of this year. Serve Robotics makes small, AI-powered robots to cover last-mile deliveries in big cities. The company currently focuses on restaurant food, but plans to expand to groceries, pharmacy orders, and even cannabis in the near future.

Moving Forward

Serve Robotics currently has just 100 robots, but it signed a contract with Uber Eats in 2022 to deploy up to 2,000 robots in cities around the country. It’s also conducting tests with pizza chains, coffee shops, and even Walmart. Automotive supplier Magna International has an exclusive contract to build its robots.

The future looks bright for Serve Robotics, but investors should be wary. The company is currently burning cash at an impressive rate, at $4.1 million in the first quarter of this year. This is pretty standard for early-stage tech companies, but it does carry some risks. It’s too early to say whether Serve Robotics will prove to be an industry disruptor or simply a fad.

If you’re a long-term, patient investor who is comfortable with a lot of risk, you may want to give this one a try. Otherwise, there are safer ways to buy into the AI-powered robotics trend, such as investing in a company like Nvidia. It’s likely that Nvidia and other well-known AI companies will continue to be major players in the robotics market, without all of the associated risk.

Neither Lisa Fritscher nor Stocks.News have positions in this company

 

Did you find this insightful?

Disclaimer: Information provided is for informational purposes only, not investment advice. We do not recommend buying or selling stocks. Stock price discussions are based on publicly available data. Readers should conduct their own research or consult a financial advisor before investing. Owners of this site have current positions in stocks mentioned thru out the site, Please Read Full Disclaimer for details Here https://app.stocks.news/page/disclaimer

Lisa Fritscher

Lisa Fritscher

Contributing Writer

Lisa Fritscher has been a contributing writer for App.Stock.News since 2024. Lisa has been interested in investing since winning The Stock Market Game in high school. In more than a decade as a professional writer, she has written consumer-facing financial information and advice articles for a wide variety of publications. She has a Bachelor of Arts in Psychology from the University of South Flori...


We are preparing, please wait

×
New Alert

Select an alert type

Choose sentiment spike or mentions spike or both to receive email alerts and app notification for the selected stock.
Note: Please be aware that you will receive an email only once a day, around 8:00 AM (EST), in the event of any spike.
In future if you don't want to receive any email then delete stocks added into alert section.

New Alert

Setup alert

×

Premium Content

This content is only available for premium members. Please become a paid member to access.

Download App

Currently, memberships can only be purchased through the app.

×

Log In


or

download app using google store Continue with Google download app using apple Continue with Apple

Email Verification

An email with a verification code has been sent to your email address.

Welcome to Stocks.News!

Create Your Account

Email Verification

An email with a verification code has been sent to your email address.