澳洲幸运5开奖号码历史查询

A Big Nvidia Stake Sends Another AI Stock Soaring

By
澳洲幸运5开奖号码历史查询:Colin Laidley
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澳洲幸运5开奖号码历史查询:Full Bio

Colin is an Associate Editor focused on tech and financial news. He has more than three years of experience editing, proofreading, and fact-checking content on current financial events and politics. He received his M.A. in journalism from The New Schoolꦉ and his B.A. in history and political science from McGill University.

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Published July 19, 2024
12:56 PM EDT
A woman looks at a Serve Robotics delivery robot at a street corner in Los Angeles.

Jay L. Clendenin🍒 / Los Angeles Times via♚ Getty Images

Key Takeaways

  • Shares of Serve Robotics jumped on Friday after Nvidia reported a 10% stake in the delivery technology company.
  • The surge echoed that of Soundhound AI, the voice AI company that saw the value of its stock triple in the month after Nvidia disclosed a stake worth just $4 million in mid-February.
  • Serve was spun off from Uber in 2021.

Shares of Serve Robotics (SERV) surged on Friday after Nvidia (NVDA) reported a 10% stake in the delivery technology company🎉, making it the latest upstart to get a boost from the AI giant's halo effect.

Nvidia in a regulatory filing late Thursday said it owned 3.7 million shares of Serve, a stake valued at about $9.8 million based on Thursday's closing price.

Shares of Soundhound AI (SOUN), a voice AI and speech recognition company, jumped in mid-February when Nvidia disclo🌟sed a🐬 stake that at the time was valued at less than $4 million. Soundhound stock has since gained more than 125%.

Serve is a last-mile delivery company whose semi-autonomous delivery robots can be seen on the sidewalks of San Francisco and Los Angeles. Serve, once a subsidiary of food delivery service Postmates, was acquired by Uber (UBER) in 2020 and subsequently spun off in 2021.

Serve shares were recently up about 130%. Nvidia's were down more than 1%.

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  2. Serve Robotics. “.”

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