Core Insights - Serve Robotics Inc. has launched its autonomous sidewalk delivery service in the Chicago metropolitan area, marking its first expansion into the U.S. Midwest [1] - The service will operate in 14 neighborhoods in Chicago, providing contact-free deliveries from over 100 restaurants to hundreds of thousands of households [2][3] - The company aims to deploy 2,000 AI-powered delivery robots across the U.S. by the end of 2025, with Chicago being a strategic location due to its pedestrian infrastructure and diverse dining options [4] Financial Performance - In Q2, Serve Robotics reported a loss of $0.24 per share, which was wider than the analyst consensus estimate of a $0.21 loss, missing expectations by approximately 12.7% [5] - Quarterly revenue increased by 37.1% year-over-year to $642,000, surpassing estimates of $624,800 [5] - The company projects an annualized revenue run-rate of $60 million to $80 million once its 2,000-robot fleet is fully deployed, with expectations for target utilization in 2026 [6]

Core Insights - Serve Robotics Inc. has launched its autonomous delivery service in the Atlanta metro area, expanding from previous successful launches in Los Angeles, Miami, and Dallas–Fort Worth as part of its collaboration with Uber Eats [1][3][4] - The service aims to provide sustainable and efficient delivery options to over 50,000 residents in Atlanta, integrating with the Uber Eats app for local food deliveries [3][4] - The company plans to deploy 2,000 AI-powered delivery robots across the U.S. by the end of 2025, with additional markets expected to be announced soon [8][9] Company Overview - Serve Robotics develops AI-powered, low-emissions sidewalk delivery robots, focusing on sustainable and economical delivery solutions [9] - The company was spun off from Uber in 2021 and has completed tens of thousands of deliveries for partners like Uber Eats and 7-Eleven [9] - Serve has established multi-year contracts, including a significant agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across various U.S. markets [9] Market Context - Atlanta is recognized as one of the largest and fastest-growing markets in the Southeast, making it a strategic location for Serve's expansion [4] - The city is characterized by a car-dependent infrastructure, and the introduction of Serve's robots is expected to alleviate traffic congestion and enhance last-mile delivery efficiency [4] - The partnership with local businesses, such as Rreal Tacos and Shake Shack, highlights the community-driven approach of Serve's service [5][6]