2 months ago
Key Takeaways
- Shares of Serve Robotics jumped connected Friday aft Nvidia reported a 10% liking successful nan transportation exertion company.
- The surge echoed that of Soundhound AI, nan sound AI institution that saw nan worth of its banal triple successful nan period aft Nvidia disclosed a liking worthy conscionable $4 cardinal successful mid-February.
- Serve was spun disconnected from Uber successful 2021.
Shares of Serve Robotics (SERV) surged connected Friday aft Nvidia (NVDA) reported a 10% liking successful nan transportation exertion company, making it nan latest upstart to get a boost from nan AI giant's halo effect.
Nvidia successful a regulatory filing precocious Thursday said it owned 3.7 cardinal shares of Serve, a liking weighted astatine astir $9.8 cardinal based connected Thursday's closing price.
Shares of Soundhound AI (SOUN), a sound AI and reside nickname company, jumped successful mid-February erstwhile Nvidia disclosed a liking that astatine nan clip was weighted astatine little than $4 million. Soundhound banal has since gained much than 125%.
Serve is simply a last-mile transportation institution whose semi-autonomous transportation robots tin beryllium seen connected nan sidewalks of San Francisco and Los Angeles. Serve, erstwhile a subsidiary of nutrient transportation work Postmates, was acquired by Uber (UBER) successful 2020 and subsequently spun disconnected successful 2021.
Serve shares were precocious up astir 130%. Nvidia's were down much than 1%.
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