Nvidia and Uber Back Serve Robotics, a $900 Million AI Company, Amid Growing Demand for Autonomous Delivery

Nvidia and Uber are backing Serve Robotics, a $900 million AI company, with Nvidia cashing out its stake a year ago. Serve Robotics generated $1.8 million in revenue last year and had 57 daily active robots. Despite its small revenue, Serve Robotics has impressive deals and a fun origin story. Uber continues to have a 12% stake in the company and is making its largest order.

Serve Robotics Inc., a San Francisco-based developer of autonomous sidewalk delivery robots, has seen significant growth and investor interest in recent months. The company, originally spun out from Uber’s Postmates division in 2021, has expanded its operations and partnerships, notably with DoorDash, to bolster its market presence and revenue potential.

Serve Robotics went public via a SPAC reverse merger and uplisted to Nasdaq in April 2024 under the ticker SERV. As of October 9, 2025, SERV trades around $14 per share, giving the company an approximate market capitalization near $800 million. The stock has been highly volatile, climbing over +50% in the past year and recently jumping ~15% after announcing the major DoorDash partnership.

The company’s robots have completed over 100,000 deliveries across several U.S. cities. As of mid-2025, Serve had a fleet of about 400 robots, with plans to scale to ~2,000 robots by the end of 2025. Despite rapid growth, revenue remains minimal (under ~$2M in 2024) and the company is not yet profitable.

Serve’s initial launch partner was Uber Eats, and the company has multi-year contracts to deploy robots for Uber in cities like Los Angeles, Miami, Dallas, and Atlanta. In October 2025, Serve expanded to DoorDash’s platform, marking its first collaboration beyond Uber. This strategic move allows Serve to tap into DoorDash’s vast user base, boosting robot utilization and order flow.

The DoorDash partnership was met with investor enthusiasm, with SERV stock surging about 15% in trading after the announcement. This expansion comes on the heels of another milestone: Serve Robotics deployed its 1,000th autonomous delivery robot in October 2025, a significant scaling achievement for the young company.

Serve’s journey began as a moonshot within the food delivery industry. Founded in 2017, the company was spun off from Uber in 2021 and has since attracted investments from key players like NVIDIA and 7-Eleven. By 2022, Serve’s robots had completed tens of thousands of deliveries in Los Angeles and San Francisco, proving the concept’s viability.

In August 2023, Serve Robotics announced a go-public transaction, raising $30 million in new financing. The company uplisted to the Nasdaq Capital Market in April 2024, pricing a $40 million public offering at $4.00 per share. Since the IPO, Serve’s stock has experienced a roller-coaster ride, surging to over $24 by mid-2025.

Serve’s technology is at the intersection of robotics and artificial intelligence. Its third-generation robots leverage NVIDIA’s Jetson Orin system-on-chip for advanced onboard processing and improved battery life. The company has also made strategic acquisitions to bolster its technology, including Phantom Auto Inc. and Vayu Robotics.

Despite its small revenue, Serve Robotics has impressive deals and a fun origin story. Uber continues to have a 12% stake in the company and is making its largest order. As Serve scales its fleet and expands its partnerships, it aims to turn its long-hyped vision of delivery robots into a fast-growing business reality.