After the latest shareholding, NVIDIA's shareholding ratio increased to 10%; For NVIDIA and Uber who invested in this company, it is more important to verify large-scale automation commercial robot distribution and AI automatic driving technology than speculative gains from investments. On the product structure, the operating income of 10-30 billion yuan products are respectively 401/1288/60 million yuan.
On July 20th, Cailian Press (Editor Shi Zhengcheng) reported that while the US stock market continued to be cloudy on Friday, a company named $Serve Robotics (SERV.US)$On July 20th, Caixin reported that while the U.S. stock market was continuously in the doldrums on Friday, a small-cap robot stock called Serve Robotics (SERV.US) soared nearly 240%, rising to its highest level since going public through a reverse merger in mid-April this year, and the reason behind it was related to AI giant NVIDIA.
According to a announcement made by Serve Robotics at the end of the previous trading day, NVIDIA, the company's shareholder, converted the convertible bonds of the issuer into 1.05 million common shares of the issuer at a price of $2.42 on April 22, this year. After this capital increase, NVIDIA's equity in Serve Robotics rose to exactly 10%, triggering the takeover mechanism under U.S. securities law.
There is a small detail here. NVIDIA uses a 13G file, which usually shows the intention of investors holding shares without affecting the company. Disclosure requirements and timeliness are relatively loose. Investors who intend to interfere with the management of listed companies will file a claim using a 13D file.
According to the U.S. securities law, NVIDIA cannot engage in reverse trading within six months after the takeover. Of course, for NVIDIA with a market value of nearly $3 trillion and an overwhelming number of orders, there is obviously no time to speculate on stocks.
Serve Robotics is a robot company spun off from Uber in 2021, whose main business is to provide robots for Uber's delivery platform of the 'last mile' meal delivery. So, Uber is not only the largest single shareholder (holding nearly 14% of the shares), but also the largest customer of Serve Robotics. According to the shareholders' meeting documents disclosed this May, in addition to Uber and NVIDIA, 7-11 convenience stores and German takeaway platform Delivery Hero are also early investors in this company.
The company plans to deploy 2,000 delivery robots in Los Angeles, San Diego, Dallas and Vancouver in 2025.
Through cooperation with Serve Robotics, Uber and NVIDIA are also verifying the feasibility of large-scale commercial automated delivery robots. Subsequently, Uber also cooperates with automatic driving car companies such as Waymo and Motional to provide food delivery services.
Serve Robotics' sidewalk delivery robots have a level of 'L4' autonomy, a standard originally set by the Society of Automotive Engineers (SAE) for self-driving cars. Reaching level L4 means that motor vehicles can achieve completely autonomous driving under specific conditions or in limited areas without human intervention.
The company also stated that in practice, robots may encounter some 'edge cases', such as police setting up a cordon or road construction, at which point they will stop and request remote supervision. Of course, with the full range of AI systems backed by NVIDIA, robots can also re-plan their routes when they encounter obstacles.
By the way, although it is a delivery robot company, Serve Robotics has also revealed that these lovely sidewalk robots are very popular with advertisers. Ali Kashani, CEO of the company, exclaimed to the media: 'Who would have thought that I founded a robot company and then entered the advertising business?'
Editor/Somer