Mentioned:
NVDA -6.20% SERV -8.02%

Nvidia is deepening their bet on robotics powered by artificial intelligence.

‍What’s happening:‍

  • Nvidia (NASDAQ: NVDA) has announced they have purchased $3.7M USD of equity in Serve Robotics (NASDAQ: SERV)

By the numbers:‍

  • Nvidia’s recent purchase of equity in Serve Robotics brings their total ownership position to more than 10% of the entire company
  • Since inception, Nvidia has invested approximately $12M USD into Serve Robotics

Why it matters:‍

  • Serve Robotics recently went public on the Nasdaq, aiming to be a first mover in short distance delivery that is done completely autonomously through leveraging computer vision and artificial intelligence technology

Going deeper:‍

  • Serve Robotics has a partnership to facilitate short distance food deliveries with Uber (NASDAQ: UBER), who was also an early strategic investor in the company

Market reaction:‍

  • Shares of Serve Robotics are up more than 200% since Nvidia announced they have increased their ownership

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