Complete List of All AI Companies Under $2 Billion Market Cap

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12. Serve Robotics Inc. (NASDAQ:SERV)

Market Capitalization: $920.17 Million

Number of Hedge Fund Holders: 5

Serve Robotics Inc. (NASDAQ:SERV) provides an AI-powered robotics platform, with last-mile delivery as its primary application. The company’s first product, a low-emissions robot for food delivery, was launched in 2020 during the pandemic, completing over 10,000 deliveries for Postmates. In 2022, Serve partnered with Uber to deploy up to 2,000 robots, with plans to expand based on funding availability.

Serve’s delivery robots are designed to reduce costs, improve reliability, and lower emissions. Despite operating constraints like cargo weight and speed, they are well-suited for deliveries under 2.5 miles, which make up a significant portion of U.S. restaurant orders. The robots are equipped with autonomous navigation, remote operator support, and secure features to protect cargo and data.

According to ARK Invest Big Ideas 2024, food and parcel delivery using robots and drones could generate $450 billion in fees, driven by cost-effective technology reshaping consumer behavior by 2030. This could provide a huge boost to Serve’s (NASDAQ:SERV) revenue in the long term.

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