AI Bytes: Chipotle

Chipotle Mexican Grill (CMG) has invested in Nuro, an autonomous delivery company, as part of a Series C funding round.

This is Chipotle’s first significant investment in a third-party technology company.

According to Curt Gardner, CTO, “Nuro could change the traditional delivery model… consumers are going… seek options… for how and when they enjoy their food.”

Of note, Chipotle’s digital business grew over 174 percent year over year in 2020. About half of digital sales came from delivery.

Quick-serve restaurants like Chipotle and Domino’s have weathered the COVID storm fairly well. Seeing them embrace the Fourth Industrial Revolution is a sign of good things to come, both for society and your portfolio.

Pete Weishaupt owns shares Domino’s. Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. The AI Investor has a disclosure policy.

Originally published at https://theaiinvestor.substack.com.