Nvidia Invests $10M In This Uber Spinout

Chipmaking giant NVIDIA Corp NVDA invested $10 million in Uber Technologies Inc UBER spinout Serve Robotics, TechCrunch reports.
Serve aims to use the funds to further expand its sidewalk delivery robot service outside Los Angeles and San Francisco.
“Nvidia’s investment is rooted in a longtime partnership with Serve using various technologies from us, from the edge to cloud-based technologies,” Gerard Andrews, senior product marketing manager of robotics at Nvidia, said. “What we’re excited about is the prospect of working closely with Serve to push the limits of what is possible on last-mile delivery problems.”
According to the company, Serve’s robots are capable of operating in specific geofenced areas without a remote operator for safety. They currently rely on Nvidia’s Jetson edge AI platform, the hardware, or compute module.
It also relies on Nvidia’s perception and mapping tools, which help its robots understand directions in the physical space.
Price Action: NVDA shares traded higher by 2.63% at $219.15 on the last check Tuesday.