Serve Robotics said on Wednesday it was rolling out its sidewalk delivery robot services in Miami, marking its first expansion to the East Coast as part of its goal to deploy 2,000 robots across the United States by the end of 2025.
Wall Street recently discovered through Securities and Exchange Commission filings that artificial intelligence (AI) chipmaker Nvidia (NVDA 2.63%) reshuffled its tech portfolio, selling out of last-mile delivery pioneer Serve Robotics (SERV -39.57%) and AI voice leader SoundHound AI (SOUN -28.10%).
On top of removing its stake from Soundhound (SOUN), Nvidia (NVDA) also pulled out of Serve Robotics (SERV). The company launched as an IPO last April and had a massive run higher that was helped by Nvidia's investment.
SERV shares are risky for near-term investors but are attractive on a long-term basis due to an expanding robotics fleet.
Serve Robotics Inc. (SERV) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.
Serve Robotics CEO Ali Kashani envisions autonomous delivery robots transforming urban logistics by optimizing the pickup and delivery of food and other products to lower the cost of last-mile delivery for businesses.
Shares of Serve Robotics (SERV -13.00%) skyrocketed 55.2% in December, according to data provided by S&P Global Market Intelligence. As 2024 drew to a close, investors seemed to be increasingly hungry for investments on the more speculative side of the spectrum, and Serve certainly fits that description.
Shares of Serve Robotics Inc SERV fell by more than 4% in premarket hours on Wednesday after an 18.7% fall on Tuesday as the delivery robots maker's CEO sold 46,425 of common stock in 2025. However, technical analysis indicates a strong bullish uptrend for the stock.
Nvidia and Uber-backed Serve Robotics has raised $80 million in a direct offering of 4.2 million shares of common stock. This is on top of the $86 million in gross proceeds Serve raised collectively December 2024 through a combination of a previously filed at-the-market facility and exercise of warrants.
Serve Robotics shares are risky for near-term investors but are attractive on a long-term basis due to an expanding robotics fleet.
Serve Robotics leverages Uber's resources to revolutionize last-mile delivery with cost-efficient, eco-friendly, autonomous robots, aiming to deploy 2,000 units by 2025. The partnership with Uber provides Serve Robotics access to a vast customer base, enhancing its market share in the rapidly growing food delivery sector. Serve Robotics' first-mover advantage, technological innovations, and sustainability focus position it as a leader in the autonomous delivery market, despite competition from Amazon Scout and Starship Technologies.
Robotics stocks are an exciting area for artificial intelligence investors to consider.