C3.ai涨10.9%，Bullfrog AI涨3.4%，Serve Robotics涨1.4%，AppLovin涨1.2%，Palantir涨0.7%， Salesforce涨0.5%。 周四（5月29）亚太盘初，纳指期货涨超0.6%，标普股指期货涨超0.3%。 英伟达目前（美股盘后）涨4.5%，纳微半导体涨6.98%，博通和迈威尔科技至少涨2.6%，Arm控股涨超 2.3%，台积电ADR涨约2%。 ...

在人形机器人发展早期，已经显露出在某些场景的不足。在首届机器人半马上，从大多数人形机器人的 续航、速度等综合表现来看，例如送货等场景，专用轮式机器人或许才是未来 5 ～ 10 年最有效的解决 方案。 虽然 过去几年 乃至未来数年里 ， 人形 机器人和人工智能作为新兴趋势 依然将 占据媒体头条， 但不 可否认， 机器人种类繁多 、 形态各异，包括人形机器人、移动机器人、人行道送货机器人，以及无人 机 等，这些产品在此前的发展浪潮中，已经实现功能细分，场景细分，未来通过融合人工智能技术加快 落地，有望快速改变传统商业模式。 在大多数行业，部署机器人的临界点将因行业和公司而异，例如终端生产力需求可能是部分公司投资机 器人的转折点。例如优质劳动力的匮乏以及人类员工劳动力成本的疯狂上涨最终将促使企业采用机器 人。又例如机器人的能力特性是否比人类更强。 ▍ 人行道机器人商业化 iPhone 时刻到来 大多数企业在某类场景会评估， 送货机器人 还是 人形机器人 ：哪个将首先带来最大的商业利益？ 在 人行道送货领域，目前可以明确发现，轮式送货机器人，在通过性以及负载能力上，都远高于人形机器 人。 不少分析师认为，人行道机器人 ...

Core Viewpoint - Serve Robotics (SERV) has experienced a significant decline in share price, dropping 52.9% over the past three months, which is a stark contrast to the performance of the broader market and technology sector [1][2]. Financial Performance - SERV reported a loss of 36 cents per share in Q4 2024, which was worse than the Zacks Consensus Estimate of a loss of 19 cents. Additionally, estimates for 2025 have been revised downward by 17 cents to a projected loss of 83 cents per share [7]. - The company has never turned a profit since its establishment in 2021, indicating ongoing financial struggles [9][10]. Customer Concentration Risk - As of December 31, 2024, SERV's revenue is heavily reliant on two customers, Magna and Uber, which together account for 91% of total revenues. This high dependence poses a risk to sales and profitability if either customer is lost [8][9]. Competitive Landscape - The autonomous last-mile delivery market is becoming increasingly competitive, with major players like Amazon and Alphabet entering the space. These larger companies have significant financial resources that allow for longer R&D cycles, putting smaller companies like SERV at a disadvantage [11][12]. - SERV faces challenges in navigating regulatory issues and improving its technological expertise compared to its larger competitors [13]. Valuation Concerns - SERV's stock is currently trading at a premium, indicated by a Value Score of F, despite the recent drop in share price. The company has a high forward 12-month price-to-earnings (P/S) ratio compared to the industry [14]. Technical Indicators - Technical indicators for SERV suggest a bearish trend, as the stock is trading below both the 50-day and 200-day moving averages, which are key levels for assessing short-term momentum [17][18]. Conclusion - Given the macroeconomic challenges, competitive pressures, customer concentration risks, and disappointing financial results, the outlook for SERV appears negative, leading to a recommendation for investors to avoid the stock [19][20].

Core Viewpoint - Serve Robotics has experienced a volatile year, marked by new partnerships and product launches in the U.S., raising questions about its long-term viability as a business [1] Company Overview - Serve Robotics is currently under scrutiny to determine if it represents a significant investment opportunity or if it may be another failure in the hardware sector from Silicon Valley [1] Financial Performance - The financials of Serve Robotics are being analyzed to assess the company's potential for growth and sustainability in the market [1]

Core Viewpoint - U.S. stocks have underperformed expectations in 2025 due to President Trump's return to protectionist policies, impacting leading tech companies that have driven S&P 500 performance since October 2022 [1] Group 1: AI Stocks Opportunity - AI stocks present valuable investment opportunities despite recent corrections, with a focus on long-term potential [2] - Archer Aviation, with a market cap of $4.4 billion, is positioned as a compelling investment due to its strategic partnerships and AI integration for aviation systems [3][4] - Archer has secured its first customer, Abu Dhabi Aviation, for its commercialization program, indicating strong commercial potential in defense and aviation markets [4] - With over $1 billion in liquidity, Archer has a robust balance sheet to support its AI-driven vision for future flight [5] - The projected market for AI and electric aviation could reach $1 trillion by 2040, enhancing Archer's growth prospects [6][7] Group 2: Serve Robotics Innovation - Serve Robotics, despite a 46% decline year-to-date, is innovating last-mile delivery with AI-powered robots, showcasing a 773% year-over-year revenue growth to $1.8 million in 2024 [8] - The company is expanding its operational footprint and has designed third-generation robots with enhanced capabilities and reduced manufacturing costs [9][10] - Serve has secured partnerships with major companies, expanding its reach to over 1,000 restaurants and 300,000 households, and has significant cash reserves to support its growth plans [10] - The combination of revenue growth potential and decreasing unit costs positions Serve for a clear path to profitability as its robot fleet scales [11] Group 3: Risk and Reward Considerations - Both Archer and Serve face regulatory and operational challenges that could impact their growth trajectories, despite their strong cash positions [12] - Current market valuations may reflect these risks, presenting a potential entry point for investors willing to navigate volatility [13] - The ongoing uncertainty in the market is viewed as an opportunity to accumulate shares in these innovative AI companies [14]