Serve Robotics Inc. (SERV) saw its stock plunge 5.70% in the pre-market trading session on Tuesday, following the disclosure that Nvidia Corp. has dissolved its stake in the company.
According to a recent 13G filing, Nvidia no longer holds any shares in Serve Robotics, a robotics and artificial intelligence company. This move by the tech giant to divest its position in SERV appears to have spooked investors, leading to the pre-market sell-off.
While the exact reasons behind Nvidia's decision are not clear, the development has raised concerns among traders regarding Serve Robotics' future prospects and its ability to deliver on its growth plans. Nvidia's divestment could be seen as a lack of confidence in the company's long-term potential.
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