Serve Robotics Inc. (NASDAQ: SERV) experienced a notable increase in its share price today, closing at $13.22, up by $1.09 or approximately 8.99%. This rise follows a significant upward trend for the company, which has surged nearly 250% since NVIDIA’s investment announcement earlier this month.
The company’s stock has shown remarkable volatility over the past year, with a trading range between $1.77 and $13.88. Currently, Serve Robotics has approximately 37.08 million shares outstanding, contributing to a market capitalization of around $97.57 million.
Serve Robotics specializes in developing autonomous delivery robots designed to operate in public spaces, primarily focusing on food delivery services. Founded in 2017 as a division of Postmates, the company has established itself as a leader in sustainable delivery solutions. Its robots are designed to reduce vehicle emissions while providing efficient delivery services.
The recent investment from NVIDIA, a major player in the AI and technology sectors, has fueled investor confidence in Serve Robotics, leading to increased market interest and activity. The company’s strategic partnerships, including collaborations with Uber and 7-Eleven, further bolster its growth potential in the rapidly evolving delivery market.
As Serve Robotics continues to expand its operations and enhance its technology, analysts remain optimistic about its future performance in the stock market.
