Robotics stock SERV soared 70%! Receives increased holdings from NVIDIA
As early as 2022, it received exclusive investment of $10 million from NVIDIA, what does this additional stake mean?
Delivery robot company Serve Robotics (SERV) soared nearly 70% in pre-market trading:
NVIDIA SEC announced that it has purchased common stock of SERV. On July 31, 2023, it purchased 62,500 shares at a price of $4.00 per share, and on April 22, 2024, it acquired an additional 1,050,129 shares at a price of $2.42 per share.
Following these transactions, NVIDIA holds a total of 3,727,033 shares of Serve Robotics Inc.
In fact, as early as 2022, NVIDIA exclusively invested $10 million in Serve Robotics.
Serve Robotics went public on Nasdaq on April 18, priced at $4 per share. The closing price the next day was $2.63 per share, well below the listing price.
The company focuses on "last-mile delivery" services, with its delivery robots as follows:
Since the beginning of the year, NVIDIA's holdings have risen by 76.45% overall:
More information: Delivery robot SERV is about to go public, with NVIDIA and Uber as shareholders