Why Are Nvidia and Uber Backing This Tiny $900 Million Artificial Intelligence (AI) Company?

Core Insights - Serve Robotics, a pioneer in delivery robotics, has received backing from major companies like Nvidia and Uber, but it generated only $1.8 million in revenue last year with 57 daily active robots as it heads into 2025 [3][4]. Company Background - Serve Robotics has an interesting origin story and elite backers, which may help it scale quickly despite its current low revenue [4]. - Uber acquired Postmates for $2.65 billion, which included Serve Robotics as a side project, but later spun it off in 2021, retaining a 12% stake [5][6]. Investment Details - Nvidia invested $12 million in Serve Robotics in 2022 for an 8% stake, focusing on integrating its AI tools into Serve's delivery machines, but cashed out its position in the fourth quarter of last year [7][8]. - Uber continues to hold a 12% stake and has made the largest order for Serve Robotics, indicating ongoing interest in the company's potential [9].