Nvidia Highlights Serve Robotics at CES
Nvidia CEO Jensen Huang showcased Serve Robotics during his keynote address at CES in Las Vegas, emphasizing the future of physical AI. Serve Robotics operates the largest sidewalk delivery fleet in the U.S. with over 2,000 robots, aiming to revolutionize the $450 billion last-mile food delivery market.
Financial Performance
In Q3, Serve Robotics reported a 209% revenue increase to $687,000; however, its losses soared to $33 million. The company’s delivery volume jumped 66% quarter over quarter and 300% year over year, with plans to expand its fleet to over 1 million robots. Currently, the company serves markets in Chicago, Dallas, Miami, and Los Angeles.
Analyst Sentiment
All seven analysts covering Serve Robotics rated the stock as a buy, with an average price target of $19, suggesting a 28% upside. Northland Capital Markets analyst Michael Latimore set a high price target of $26, indicating potential gains of 77% over the next year.
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