Shares of Serve Robotics surged 62.2% in morning trading Friday after chip giant Nvidia disclosed its investment in the company.
The hares ended Thursday’s market trading session up 12% at $2.63. The company made its public debut in March under the OTCQB and then uplisted to the Nasdaq Capital Market in April.
Nvidia said in a filing with the Securities and Exchange Commission that it bought 62,500 shares of the automatic sidewalk delivery company for $4 each last July. Nvidia invested in the company again in April, converting a promissory note into more than 1 million Serve Robotics shares at $2.42 apiece.
Serve also counts Postmates, a subsidiary of Uber Technologies, as one of its largest shareholders and a strategic partner.
Comments