Serve Robotics (NASDAQ:SERV) Stock Surges 40% After Nvidia’s Investment: What You Need to Know
Serve Robotics (NASDAQ:SERV) stock skyrocketed by 40% yesterday and is currently up by 5% this morning. However, the stock is experiencing some volatile trading today. The shares have surged by about 500% since Nvidia (NASDAQ:NVDA) disclosed on July 18 that it had taken a small stake in the autonomous robotics company.
Nvidia’s Investment and Serve’s Background
On July 18, Nvidia revealed that it had acquired 3.7 million shares of Serve Robotics stock, representing a 10% stake in the company. As of yesterday’s market close, that stake in SERV stock was valued at approximately $45 million.
Serve, established in 2007, specializes in selling zero-emission robots that have achieved Level 4 autonomy. This means that they can operate routinely without human intervention and rely on their onboard capabilities to ensure safe operation.
In May, the start-up announced a partnership with Uber Technologies (NYSE:UBER) where some customers in Los Angeles can have their meals delivered by Serve’s robots.
Serve’s New Director
Goldberg, Serve’s new director, is a vice president at Magna International (NYSE:MGA), a prominent Canadian auto parts maker. Prior to joining Magna, he was the CFO of electric vehicle start-up REE Automotive. Goldberg has a background in new partnerships, strategic investments, and due diligence, having previously worked at investment bank Greenhill & Co as a managing director.
Price Action of SERV Stock
In the last five days, SERV stock has surged by 60% and has seen a 300% jump in the last three months.
Analysis:
Serve Robotics stock has been on a bullish streak, fueled by Nvidia’s investment and strategic partnerships with companies like Uber. The company’s focus on autonomous robotics and zero-emission technology positions it well for future growth. Investors should keep an eye on Serve Robotics as it continues to innovate in the robotics industry, potentially offering lucrative investment opportunities.