$Serve Robotics (SERV.US)$ shares are trading higher Monday. The stock appears to be moving on continued momentum after $NVIDIA (NVDA.US)$ disclosed a stake in the company last week.
Serve Robotics shares soared 187% on Friday after Nvidia revealed a 10% stake in the robotics company in a filing with the U.S. Securities and Exchange Commission last week.
In a filing released late Thursday, Nvidia said it now owns 3,727,033 shares of Serve Robotics after it converted a promissory note from Serve Robotics into 1,050,129 shares of common stock in April.
Serve Robotics went public via reverse merger with Patricia Acquisition Corp. According to TechCrunch, Serve Robotics was initially started as the robotics division of Postmates. The autonomous sidewalk robots started delivering to Postmates customers in 2018, but when Uber acquired Postmates in 2020, the robotics division was spun out as Serve Robotics.
It's worth noting that Serve Robotics appears to be getting a lot of attention from retail traders on Monday. It was trending across various social sites at the time of publication.