Serve Robotics initiated with an Outperform at Northland

Northland initiated coverage of Serve Robotics (SERV) with an Outperform rating and $16 price target As GenAI is changing the landscape for human-to-computer interactions, physical AI is similarly advancing machine-to-physical world interactions, notes the analyst, who views Serve Robotics as “on the leading edge of physical AI.” The company, which is providing autonomous mobile robots for public spaces, offers robots that materially lower delivery costs in the “initial big use case” of food delivery, the analyst tells investors.