The Details:

According to SEC filings, Nvidia increased its stake in Serve Robotics by approximately 1 million shares on April 22, 2024. The purchase brought Nvidia's total holdings in Serve to about 3.7 million shares or a 10% stake in the company. 

Serve Robotics has developed an advanced, AI-robotics mobility platform, with last-mile delivery in cities as its first application.Serve's first product is a zero-emission robot that serves people in public areas, starting with food delivery.

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Backed by Uber Technologies Inc. (NYSE:UBER) and Nvidia, Serve became an independent company in 2021 with scalable multi-year contracts, including a signed agreement to deploy delivery robots on the Uber Eats platform.

Serve shares are racing higher on heavy trading volume Friday as investors digest the disclosure. According to data from Benzinga Pro, more than 11 million shares have been traded before the opening bell, compared to its 100-day average volume of less than 688,000 shares. 

How To Buy SERV Stock:

By now you're likely curious about how to participate in the market for Serve Robotics – be it to purchase shares, or even attempt to bet against the company.

SERV Price Action: According to Benzinga Pro, Serve Robotics shares are up 52% at $4 at the time of publication Friday.

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Image: Courtesy of Serve Robotics, Inc.