Nvidia is deepening their bet on robotics powered by artificial intelligence.
What’s happening:
- Nvidia (NASDAQ: NVDA) has announced they have purchased $3.7M USD of equity in Serve Robotics (NASDAQ: SERV)
By the numbers:
- Nvidia’s recent purchase of equity in Serve Robotics brings their total ownership position to more than 10% of the entire company
- Since inception, Nvidia has invested approximately $12M USD into Serve Robotics
Why it matters:
- Serve Robotics recently went public on the Nasdaq, aiming to be a first mover in short distance delivery that is done completely autonomously through leveraging computer vision and artificial intelligence technology
Going deeper:
- Serve Robotics has a partnership to facilitate short distance food deliveries with Uber (NASDAQ: UBER), who was also an early strategic investor in the company
Market reaction:
- Shares of Serve Robotics are up more than 200% since Nvidia announced they have increased their ownership
