Serve Robotics launches autonomous delivery service in Chicago, expanding its partnership with Uber Eats to over 100 restaurants.
Quiver AI Summary
Serve Robotics Inc. has launched its autonomous sidewalk delivery service in the Chicago metro area, expanding its operations to the Midwest after successful rollouts in several major cities including Los Angeles and Miami. The service, in partnership with Uber Eats, enables residents in 14 neighborhoods to receive deliveries from over 100 restaurants using Serve's delivery robots. CEO Dr. Ali Kashani highlighted the excitement of bringing the company's technology to Chicago, known for its vibrant food scene. This launch is part of Serve's goal to deploy 2,000 AI-powered robots across the United States by the end of 2025, aiming to create a more reliable and sustainable delivery experience.
Potential Positives
- Serve Robotics has successfully expanded its services into the Chicago metro area, reaching new customers and markets.
- The launch enables contact-free delivery from over 100 restaurants to hundreds of thousands of households, enhancing convenience for consumers.
- The partnership with Uber Eats continues to strengthen, indicating confidence in Serve's technology and service model.
- The expansion is part of Serve's larger goal to deploy up to 2,000 delivery robots across the U.S. by the end of 2025, showing significant growth potential.
Potential Negatives
- The mention of "risks and uncertainties" regarding their forward-looking statements could imply a level of unpredictability about the company's performance and potential challenges ahead.
- The press release does not provide specific financial metrics or performance indicators related to the success of previous rollouts, which may raise concerns about transparency regarding operational success.
- Though the expansion to Chicago is highlighted, it does not address any potential competition in the area or how they plan to differentiate themselves in a growing market for autonomous delivery services.
FAQ
What cities did Serve Robotics expand to in 2025?
Serve Robotics launched its service in Chicago, marking its first Midwest expansion after successful rollouts in other major cities.
How many neighborhoods in Chicago will receive delivery service?
Serve Robotics is offering delivery service across 14 neighborhoods in Chicago, enhancing local convenience.
What type of food can Chicagoans order with Serve Robotics?
Customers can enjoy a variety of local favorites, including Chicago-style dogs and deep-dish pizza through Serve's delivery robots.
How does Serve Robotics ensure safety and integration in Chicago?
Serve Robotics has collaborated closely with local partners and community stakeholders to integrate its robots seamlessly into Chicago's environment.
What are Serve Robotics' future plans for delivery robots?
Serve aims to deploy 2,000 AI-powered delivery robots across the U.S. by the end of 2025, expanding its service capabilities.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SERV Insider Trading Activity
$SERV insiders have traded $SERV stock on the open market 38 times in the past 6 months. Of those trades, 0 have been purchases and 38 have been sales.
Here’s a breakdown of recent trading of $SERV stock by insiders over the last 6 months:
- ALI KASHANI (Chief Executive Officer) has made 0 purchases and 4 sales selling 175,572 shares for an estimated $1,801,903.
- BRIAN READ (Chief Financial Officer) has made 0 purchases and 18 sales selling 94,566 shares for an estimated $872,464.
- EUAN ABRAHAM (Chief Hardware & Mftg Offcr) has made 0 purchases and 6 sales selling 48,789 shares for an estimated $639,120.
- TOURAJ PARANG (President & COO) has made 0 purchases and 4 sales selling 60,150 shares for an estimated $620,204.
- DAVID MICHAEL GOLDBERG has made 0 purchases and 2 sales selling 15,700 shares for an estimated $181,648.
- OLIVIER VINCENT sold 8,000 shares for an estimated $91,928
- EVAN DUNN (General Counsel) has made 0 purchases and 2 sales selling 7,015 shares for an estimated $71,570.
- ANTHONY ARMENTA (Chief Software & Data Officer) sold 2,915 shares for an estimated $31,132
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SERV Hedge Fund Activity
We have seen 82 institutional investors add shares of $SERV stock to their portfolio, and 63 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 1,834,462 shares (+345.3%) to their portfolio in Q2 2025, for an estimated $20,986,245
- GEODE CAPITAL MANAGEMENT, LLC added 560,361 shares (+176.0%) to their portfolio in Q2 2025, for an estimated $6,410,529
- STATE STREET CORP added 540,854 shares (+386.2%) to their portfolio in Q2 2025, for an estimated $6,187,369
- MORGAN STANLEY added 469,710 shares (+113.6%) to their portfolio in Q2 2025, for an estimated $5,373,482
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 396,486 shares (-48.0%) from their portfolio in Q2 2025, for an estimated $4,535,799
- TWO SIGMA INVESTMENTS, LP removed 359,310 shares (-63.6%) from their portfolio in Q2 2025, for an estimated $4,110,506
- CUBIST SYSTEMATIC STRATEGIES, LLC removed 358,994 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $4,106,891
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$SERV Analyst Ratings
Wall Street analysts have issued reports on $SERV in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Cantor Fitzgerald issued a "Overweight" rating on 05/22/2025
To track analyst ratings and price targets for $SERV, check out Quiver Quantitative's $SERV forecast page.
$SERV Price Targets
Multiple analysts have issued price targets for $SERV recently. We have seen 2 analysts offer price targets for $SERV in the last 6 months, with a median target of $16.0.
Here are some recent targets:
- Daniel Ives from Wedbush set a target price of $15.0 on 08/27/2025
- Andres Sheppard from Cantor Fitzgerald set a target price of $17.0 on 05/22/2025
Full Release
CHICAGO, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Serve Robotics Inc. (Nasdaq: SERV), a leading autonomous sidewalk delivery company, today announced the launch of its service in the Chicago metro area, marking its first expansion into the Midwest. This milestone builds on Serve’s successful rollouts in Los Angeles, Miami, Dallas–Fort Worth, and Atlanta as part of its ongoing collaboration with Uber Eats, the delivery platform of Uber Technologies Inc. (NYSE: UBER).
Starting today, Chicagoans across 14 neighborhoods – including Austin, Belmont Cragin, Dunning, East Garfield Park, Humboldt Park, Lakeview, Lincoln Park, Little Italy, Logan Square, Near North Side, Near West Side, Uptown, West Garfield Park and West Town – can enjoy their local favorites delivered by Serve’s fleet of friendly sidewalk robots. The launch brings the convenience of contact-free delivery from over 100 restaurants to hundreds of thousands of households across the city.
“Chicago is a city known for its food and big personality, and we’re thrilled to add our robots into the mix,” said Dr. Ali Kashani, CEO and co-founder of Serve Robotics . “Whether you’re craving a Chicago-style dog, deep-dish pizza, or a late-night snack, Serve robots make delivery more reliable, sustainable, and a little more fun.”
“Our ongoing partnership with Serve Robotics reflects our commitment to redefining the customer delivery experience,” said Megan Jensen, Head of Autonomous Delivery Operations at Uber Eats . “By bringing autonomous delivery with Uber Eats to more neighborhoods, we’re making it easier than ever for customers to enjoy their favorites, whenever and wherever they want them.”
Chicago offers the ideal environment for sidewalk delivery with its extensive pedestrian infrastructure, vibrant dining scene, and culture of innovation. Serve has worked closely with local partners and community stakeholders to ensure its robots integrate seamlessly into Chicago’s forward-looking and food-loving community.
The launch of Serve’s Chicago operations marks another milestone on Serve’s journey toward deploying 2,000 AI-powered delivery robots across the U.S. by the end of 2025.
To learn more about Serve Robotics, visit www.serverobotics.com .
About Serve Robotics
Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.
For further information about Serve Robotics (Nasdaq: SERV), please visit www.serverobotics.com or follow us on social media via X (Twitter) , Instagram , or LinkedIn @serverobotics.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Serve intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act. These forward-looking statements can be about future events, including statements regarding Serve's intentions, objectives, plans, expectations, assumptions and beliefs about future events, including Serve's expectations with respect to the financial and operating performance of its business, its capital position, and future growth. The words "anticipate", "believe", "expect", "project", "predict", "will", "forecast", "estimate", "likely", "intend", "outlook", "should", "could", "may", "target", "plan" and other similar expressions can generally be used to identify forward-looking statements. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. Any forward-looking statements in this press release are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include those risks and uncertainties set forth in Serve's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the United States Securities and Exchange Commission (the "SEC") and in its subsequent filings filed with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Serve undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Contacts
Media
Aduke Thelwell, Head of Communications & Investor Relations
Serve Robotics
[email protected]
Investor Relations
[email protected]
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/13a9c04b-3d4e-484e-b0dc-27dd2b02be82
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