Serve Robotics Inc. (NASDAQ: SERV) Spikes on Traders Reaction to NVIDIA Holdings

July 19, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas, including AI and robotics stocks reports on trading for. Serve Robotics Inc. (NASDAQ: SERV).

The stock is trading at $7.82, gaining $5..19, up 197.34% on volume of over 197 Million shares on traders reaction to a 13G SEC filing on Thursday that revealed NVIDIA (NASDAQ: NVDA) owns 3,727,033 shares . The stock has a day's range of $3.92 - $8.36 giving lots of opportunity for retail investors to make big gains.

Backed by Umber and NVIDIA, Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.

The Company's most recent material news was June 27th when they announced the expansion of its delivery operations into Koreatown as part of a long-term plan to broaden its geographic reach in Los Angeles and across the U.S. Additionally, in preparation for the scale up of its fleet for future expansions, Serve announced the expansion of its lidar supply agreement with Ouster, Inc. ("Ouster") to equip its next-generation robots with upgraded sensors for enhanced performance.

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