UBER - Serve Robotics Stock Rises After Nvidia Discloses 10% Stake | Benzinga
Serve Robotics Inc. (NASDAQ:SERV) shares are trading higher Friday after NVIDIA Corp (NASDAQ:NVDA) disclosed a 10% stake in the company.
The Details:
According to SEC filings, Nvidia increased its stake in Serve Robotics by approximately 1 million shares on April 22, 2024. The purchase brought Nvidia's total holdings in Serve to about 3.7 million shares or a 10% stake in the company.
Serve Robotics has developed an advanced, AI-robotics mobility platform, with last-mile delivery in cities as its first application.Serve's first product is a zero-emission robot that serves people in public areas, starting with food delivery.
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Backed by Uber Technologies Inc. (NYSE:UBER) and Nvidia, Serve became an independent company in 2021 with scalable multi-year contracts, including a signed agreement to ...