• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Investing

Serve Robotics stock soars 140% after Nvidia reveals major stake

by July 19, 2024
written by July 19, 2024

Serve Robotics Inc (NASDAQ: SERV) saw its stock price skyrocket by 140% on Friday following the announcement that AI giant Nvidia Corp (NASDAQ: NVDA) had acquired a substantial stake in the company, which specializes in low-emissions sidewalk delivery robots.

Nvidia’s strategic investment

Nvidia invested over $3.7 million to purchase just over 1 million shares of Serve Robotics, according to a securities filing released on Friday. 

This translates to an average price of $2.42 per share. Nvidia’s initial investment in Serve Robotics was made in July 2023, and in April this year, the company converted a promissory note into 1.05 million shares of SERV.

Market reaction and volume surge

Following the news, Serve Robotics’ stock saw a massive increase in trading volume. 

By the time of writing, more than 120 million shares had exchanged hands, significantly higher than the average daily trading volume of around half a million shares. 

Despite Nvidia’s stock falling by 1.0% on Friday, the news of its investment sent Serve Robotics’ shares soaring.

Ownership and strategic partnerships

Nvidia now owns about 10% of Serve Robotics. Other notable investors include Postmates, a subsidiary of Uber Technologies Inc., which is one of the largest shareholders and a strategic partner of Serve Robotics. 

Serve Robotics went public as an “OTCQB” in March and was uplisted to Nasdaq in April.

Investor caution

Given the volatility, investors are advised to exercise caution. 

Serve Robotics’ stock, which was priced at $2.63 at the close on Thursday, could potentially lose its gains as quickly as it acquired them.

Comparison to SoundHound AI

Nvidia’s investment strategy often involves taking significant stakes in companies integral to artificial intelligence. 

Earlier this year, Nvidia announced a $3.7 million stake in SoundHound AI, which saw a temporary surge in its stock price. 

However, SoundHound AI’s stock, which peaked at $8.91 in mid-March, is now trading just above $5.0. 

This raises questions about whether Serve Robotics can sustain its Nvidia-related gains in the coming weeks and months.

Financial performance

In May, Serve Robotics reported $95 million in revenue for its first financial quarter, with $85 million coming from an agreement with Magna. 

The company confirmed that the remaining $35 million from that deal will be realized in Q2 of 2024.

The recent surge in Serve Robotics’ stock price following Nvidia’s investment underscores the market’s enthusiasm for AI-related ventures. 

However, given the stock’s volatility and the experiences of similar companies, investors should remain cautious while evaluating the long-term potential of Serve Robotics.

The post Serve Robotics stock soars 140% after Nvidia reveals major stake appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Democrat godfathers make Biden offer they hope he can’t refuse
next post
Plug Power plummets 15% amid $200 million stock offering: Should you buy?

related articles

Asian markets open: Nikkei, Hang Seng fall on...

June 12, 2025

Aluminum and steel tariffs spark rise in secondary...

June 12, 2025

Airbus sees aviation boom ahead, global fleet to...

June 12, 2025

US-China trade talks and Washington’s decade-long effort to...

June 12, 2025

Europe markets open: Stoxx 600 dips as UK...

June 12, 2025

UK GDP falls by 0.3% in April as...

June 12, 2025

Gordon Brothers buys Poundland; pledges £80 mn for...

June 12, 2025

Air India plane crash: London-bound flight with 242...

June 12, 2025

Air India plane crash live update: Indian President...

June 12, 2025

Copper remains supported for now even as China...

June 12, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Trump announces ‘decisive and powerful’ airstrikes against Houthi terrorists in Yemen

    March 15, 2025
  • President-elect Trump appoints three key positions in White House offices

    November 26, 2024
  • Is Perplexity AI really a threat to Google Search?

    August 12, 2024
  • House Speaker Johnson calls Biden’s last-minute pardons ‘shocking’ and ‘disgusting’

    January 22, 2025
  • Trump targets massive investments in first Middle East trip

    May 13, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,290)
  • Investing (634)
  • Stock (836)

Latest Posts

  • Japan leads Asia rebound after Monday mayhem but analysts warn volatility will persist

    August 6, 2024
  • Trump pressures Israel to end Gaza conflict as he eyes Abraham Accords expansion

    June 30, 2025
  • Trump calls for Jordan, Egypt to accept more Palestinian refugees: ‘Clean out that whole thing’

    January 26, 2025

Recent Posts

  • Dow jumps 384 points as jobs data lifts Wall Street; S&P 500 eyes longest winning streak since 2004

    May 3, 2025
  • Vice President JD Vance to play key role with RNC to ‘fully enact MAGA mandate,’ grow GOP majority in 2026

    March 18, 2025
  • Trump will determine if Putin is ‘serious about negotiations’ to end Ukraine war, Rubio says

    February 16, 2025

Editor’s Pick

  • Trump’s ‘Golden Dome’ will need Manhattan Project-scale whole-of-government effort, Space Force general warns

    March 6, 2025
  • Anthony Fauci may be deposed as GOP intensifies COVID investigations in new Congress

    February 1, 2025
  • Who is Yahya Sinwar? The Israeli prisoner turned terrorist Hamas leader killed by IDF forces

    October 17, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock