Uber Technologies, Inc. develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services. The Delivery segment allows consumers to search for and discover restaurants to grocery, alcohol, convenience, and other retailers, as well as order a meal or other items, and either pick-up at the restaurant or have it delivered; and provides Uber direct, a white-label delivery-as-a-service for retailers and restaurants, as well as advertising services. The Freight segment manages transportation and logistics networks, which connects shippers and carriers in digital marketplace, including carriers upfronts, pricing, and shipment booking; and offers on-demand platform to automate logistics end-to-end transactions for small-and medium-sized businesses to global enterprises. Uber Technologies, Inc. has staetegic partnership with Mews to embed ride booking, real-time tracking and integrated billing directly into the Mews platform. The company was formerly known as Ubercab, Inc. and changed its name to Uber Technologies, Inc. in February 2011. Uber Technologies, Inc. was founded in 2009 and is headquartered in San Francisco, California.
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Uber Clears Key Hurdle in California Racketeering Lawsuit
Uber Technologies has cleared a key hurdle in its California racketeering lawsuit, as a federal judge allowed most claims against lawyers and medical providers to proceed. The suit alleges a coordinated scheme that Uber says inflated costs tied to staged or exaggerated rideshare injury claims under U.S. racketeering laws. Separately, a new U.S. class action accuses Uber of misleading consumers with Uber Eats priority delivery fees linked to its "direct to you" marketing. Both cases raise legal and reputational questions for Uber at a time when investors are closely watching platform risk and consumer trust in large app-based services.
Waymo to begin testing autonomous vehicles in Munich
Waymo said on Tuesday it would begin testing its autonomous vehicles in Munich in the coming weeks, laying the groundwork for a commercial ride-hailing service in Germany that it aims to launch toward the end of 2027. The Alphabet-owned company said its vehicles would initially drive manually across Munich to map local roads and test with trained autonomous specialists behind the wheel, helping its autonomous driving system adapt to Munich's driving conditions before commercial operations begin. Waymo said it is already engaging with local, state and federal officials on regulatory approvals needed to offer its service in Germany, and plans to invest in local fleet operations and create high-skilled jobs as it prepares to launch in Munich. The announcement comes after Uber, Verne and Pony.ai launched autonomous rides in Zagreb last week, making the Croatian capital the first European city where users could book a self-driving vehicle through Uber's app. Waymo raised $16 billion earlier this year at a $126 billion valuation as it expands its robotaxi business.
Retail drone delivery shifts from pilots to hybrid fulfilment
Drone delivery is moving from pilot projects toward a credible role in retail fulfilment, with Amazon planning to expand Prime Air to nearly 500 US cities and towns by the end of 2026 and Walmart having completed more than one million drone deliveries. Walmart is working with Wing on a network of more than 270 locations planned for 2027, while DoorDash received FAA Part 135 air-carrier certification in July and launched DoorDash Air, and Uber has agreed to introduce Zipline drone delivery through Uber Eats with a target of one million drone deliveries a day by the end of 2029. The future is likely a hybrid model in which drones handle small, lightweight, time-sensitive purchases in selected suburban and metropolitan areas, while vans and couriers continue to serve larger or consolidated orders. Regulation remains a key gateway, with the FAA proposing a Beyond Visual Line of Sight framework in 2025 and the UK Civil Aviation Authority aiming to enable routine BVLOS operations through 2027, but cost competitiveness will depend heavily on utilisation, delivery density, and increasing autonomy.
Tesla to unveil production Cybercab on September 3rd
Tesla will unveil the production Cybercab at a launch event in Austin, Texas, on September 3rd, as the company ramps up its self-driving efforts. The two-seat, purpose-built robotaxi has no steering wheel or pedals and is Tesla's first vehicle designed purely for autonomy, meant to run on its Full Self-Driving software as part of the Robotaxi fleet launched in Austin last year. The launch follows last week's unanimous approval by the Nevada Transportation Authority of permits for Tesla, Waymo, and Uber to run commercial robotaxis in Clark County, authorizing up to 8,000 driverless vehicles over the next 12 months. Tesla drew the largest allocation of around 5,000 robotaxis, though its Cybercab chief engineer told regulators the company expects to field around 2,500 within the year, calling the 5,000 figure a ceiling. Alphabet's Waymo was cleared for up to 1,000 vehicles, while Uber secured 1,000 more through partnerships with Hyundai-backed Motional and Amazon's Zoox, which holds a separate permit for 100.
Uber faces €825 million Dutch fine over automated driver suspensions
The Dutch Data Protection Authority is fining Uber €825 million, around $966 million, over automated driver account suspensions. The regulator found Uber deactivated driver accounts through an automated process without sufficient warning or human oversight, with deputy chair Monique Verdier calling the infringements serious. Uber disputes the findings, arguing most suspensions are brief and no permanent deactivations occur without human review, and says it will appeal the decision. The fine is the second largest issued under Europe's General Data Protection Regulation, according to Reuters.
Gig economy stocks reported mixed second-quarter earnings, with revenues in line with analyst consensus but next-quarter guidance 11.2% below expectations. Lyft posted revenues of $1.84 billion, up 16.1% year over year and beating estimates by 1.9%, while DoorDash delivered the biggest beat with revenues of $4.45 billion, up 35.6% year over year. Fiverr was the weakest, with revenues down 10% year over year to $97.78 million and full-year EBITDA guidance missing significantly. Upwork's revenues fell 1.7% year over year to $191.7 million, and Uber's revenues rose 12.2% year over year to $14.19 billion, in line with expectations. On average, gig economy stocks are down 6% since their latest earnings reports.
Alphabet Rises as Waymo Secures Another Robotaxi Market
Alphabet shares jumped about 1.1% to $344.42 Friday morning after Waymo joined Tesla and Uber in securing permits for robotaxi operations in Las Vegas. The move adds another proving ground for Waymo's technology as Alphabet works to turn it into a scalable transportation business. Alphabet's second-quarter revenue surged 24% to $119.8 billion, while Cloud revenue rocketed 82% to $24.8 billion and backlog swelled to $514 billion. The stock trades near 17 times trailing earnings, roughly half Apple's multiple, but stands 36.2% above the $252.87 GF Value estimate.
Tesla Rallies 4% on Europe Semi Launch and Las Vegas Robotaxi Permits
Tesla stock rallied 4% to $357.91 in Friday morning trading on two forward-looking catalysts: a Europe launch event for its all-electric Semi truck and Nevada regulators' approval of Las Vegas robotaxi permits for Tesla, Uber, and Alphabet's Waymo. Uber gained 2% to $79.79 on the same Nevada approval, while Alphabet rose 0.3% to $343.07 and the Global X Autonomous & Electric Vehicles ETF added 1% to $34.9, showing the rally is narrowly concentrated in Tesla rather than the broader autonomy theme. The gains came even as Tesla disclosed its largest-ever recall in China, covering 2.98 million vehicles built between 2018 and 2026 due to emergency door release failures linked to at least 15 deaths, and as Tesla's July retail sales in China fell 32% year over year while the country's battery-EV market grew 6%. Tesla's active Full Self-Driving subscriptions reached 1.48 million in Q2 2026, up 56% year over year, and the company says its Semi factory in Nevada is commissioning with production on track for 2026.
Amazon, Uber, DoorDash, and Walmart are making major new commitments to drone delivery, signaling a shift from experiment to scale. Amazon said Wednesday its Prime Air service will expand to nearly 500 U.S. cities and towns by the end of 2026, a sixfold increase from its current footprint, with new markets including Chicago, Atlanta, Cleveland, and Syracuse, N.Y. DoorDash recently launched DoorDash Air after receiving FAA certification to operate its own commercial drone service, while Uber announced a strategic partnership with Zipline that aims for 1 million drone deliveries per day by the end of 2029. Walmart told Fortune it is approaching 2 million drone deliveries and plans to build more than 270 drone delivery locations in 2027 with Wing, Alphabet's drone company, reaching more than 40 million Americans.
The Nevada Transportation Authority unanimously approved three permits Thursday allowing Tesla, Uber, and Waymo to operate commercial robotaxi services in Clark County, home to Las Vegas. Together, the permits would deploy up to 8,000 robotaxis across the county over the next 12 months, with Tesla allowed up to 5,000 vehicles, Waymo up to 1,000, and Uber up to 1,000 through partnerships with Hyundai subsidiary Motional and Zoox. Tesla's Cybercab chief engineer Eric Early said the 5,000 figure is a ceiling and the company would be happy to reach 2,500 vehicles in the next year. Representatives from the Livery Operators Association and local taxi companies opposed the permits, citing concerns about oversaturation and roadway overcrowding.
Uber Technologies sold approximately $472 million worth of Aurora Innovation shares in a block transaction. According to a Form 4 filing, on August 17, Neben Holdings, Uber's fully owned subsidiary, sold 72 million Aurora shares to a financial institution for $6.55 each, valuing the deal at around $471.6 million. Uber still beneficially owns about 186.5 million Aurora shares after the transaction, retaining significant exposure to the autonomous-driving startup. The sale appears to be a partial monetization of a significant investment rather than a complete withdrawal, as Uber continues to broaden its autonomous-vehicle strategy through agreements with multiple self-driving technology startups.
Uber launches Baidu's fully driverless Apollo Go in Dubai
Uber has launched Baidu's fully driverless Apollo Go robotaxis on its platform in Dubai, marking the first market where their multi-year strategic partnership becomes operational. Riders requesting UberX or Uber Comfort may be matched with an Apollo Go vehicle, or they can select a dedicated Autonomous option in the app, with initial service in select areas of Umm Suqeim and Jumeirah. The service uses Apollo Go's sixth-generation RT6 electric robotaxi, which seats up to three passengers and carries more than 30 sensors. Baidu says Apollo Go has now spanned 28 cities globally and accumulated over 350 million autonomous kilometers, including more than 240 million fully driverless kilometers. Uber says this launch establishes the first multi-partner autonomous network globally, with New Horizon Luxury Transport serving as fleet operator.
Amazon to Expand Drone Delivery to Nearly 500 Cities and Towns
Amazon announced a major expansion of its Prime Air drone delivery service, with plans to reach customers in nearly 500 cities and towns by the end of 2026. The service, which offers delivery in as little as 30 minutes, will launch in metro areas including Chicago, Atlanta, Cleveland, Syracuse, New York, and Boise, Idaho. Amazon currently operates in 11 metro areas such as Phoenix, Detroit, Houston, Dallas, and San Antonio, and has already delivered hundreds of thousands of packages by drone this year. The expansion comes as competitors like Walmart, DoorDash, and Uber also push into aerial delivery, despite regulatory hurdles and concerns over noise and safety.
Little Caesars Teams Up with Coco Robotics for Autonomous Pizza Deliveries
Little Caesars has partnered with Coco Robotics to deploy autonomous delivery robots across locations in Los Angeles, Chicago, and Miami, with San Jose to follow. Orders placed through participating Little Caesars locations on DoorDash and Uber Eats may be fulfilled by Coco, which integrates directly into both platforms' existing ordering systems. The collaboration has already earned Little Caesars two 2026 Franchise Innovation Awards, including Innovator of the Year for Operations & Technology. Coco Robotics, founded in 2020, has completed over 500,000 zero-emission deliveries across the U.S. and Europe.
Chinese autonomous driving company Pony.ai said on Tuesday it has a pipeline of planned and potential overseas robotaxi deployments of more than 4,000 vehicles as it accelerates expansion beyond China. The company, which is targeting a robotaxi fleet of 3,500 vehicles by year-end, did not provide a timeline for finalizing all overseas deployments or say how many robotaxis it has deployed abroad so far. Last week it announced plans to deploy more than 2,000 robotaxis in Europe through an expanded partnership with Uber. Pony.ai also reported second-quarter total revenue rose 68.8% year-on-year to $36.2 million, with robotaxi revenue surging 691.2% and making up one-third of total revenue for the first time. CEO James Peng said the company is confident in exceeding its full-year robotaxi services revenue target, which is expected to be more than 3.5 times 2025's level.
Serve Robotics cut its 2026 revenue forecast by more than half, sending its stock down about 15%. The company now expects full-year revenue of $9 million to $10 million, down from a prior forecast of $26 million, citing lower Uber Eats delivery volume than anticipated. Serve reported second-quarter revenue of $3.2 million, a 404% increase from a year earlier, but that included revenue from its January acquisition of Diligent. The company lost over $113 million on a GAAP basis in the first half of 2026 and had $240 million in cash and equivalents as of June 30. Serve stock is down almost 80% from its 2024 peak and trades at a price-to-sales ratio of 46.
Uber CEO Hails Japan Robotaxi Expansion as Global Autonomous Race Heats Up
Uber Technologies CEO Dara Khosrowshahi hailed the expansion of the company's robotaxi operations in Japan, calling the country a terrific market. Uber signed an operational partnership with Japan's Hinomaru Kotsu to oversee fleet operations in Tokyo, with a late 2026 launch planned. The service will use Nissan Leaf EVs equipped with Wayve's AI Driver technology, initially with onboard safety drivers. Uber had previously planned to invest over $2 billion in Japan over five years, according to a Nikkei Asia report. The expansion comes as Uber's partnership with Alphabet's Waymo faces tensions, with Waymo reportedly considering an exit and planning its own service in Austin and Atlanta in January 2028.
Serve Robotics partners with Grubhub after Uber exit
Serve Robotics has partnered with Grubhub to offer robot delivery to nearly 200 Los Angeles restaurants, including Sushi Q, the Indian Kitchen and Mel & Rose. The deal will also launch Serve's robots in 100 Chicago restaurants and some in Virginia. The announcement follows Uber's sale of its stake in Serve this year after a drop in delivery volume and disagreements over robot utilization. Serve reduced its expected 2026 revenue guidance from $26 million to $9 million to $10 million after quarterly delivery volumes from Uber Eats declined for the first time since 2022. The company has also expanded to two new markets on DoorDash, San Jose and Washington, and is introducing a micro depot model in Miami.
Uber and Zipline Target a Million Drone Deliveries a Day
Uber Technologies and Zipline announced a partnership to bring autonomous drone delivery to Uber Eats customers across the United States, with Uber also making a strategic investment in the drone company. Uber declined to disclose the size of that investment. The stated goal is 1 million drone deliveries a day by the end of 2029, with the first flights beginning later this year. Zipline has made 2 million deliveries in total across four continents since the company began. The service starts in Zipline's existing US markets before expanding to dozens more cities. Zipline was valued at $7.6 billion after raising $800 million earlier this year, and its US commercial partners already include Walmart and more than a dozen restaurant brands, among them Panera, Chipotle and Wendy's.
Uber Technologies has sold its entire stake in autonomous delivery robot company Serve Robotics, catching the startup off guard. According to a regulatory filing on Friday, Uber disclosed the sale, having been reducing its stake in recent years. Serve Robotics was reportedly unaware of Uber's exit until news of the filing surfaced. The two companies have been partners since 2022, with an expanded deal in May 2023 for up to 2,000 sidewalk robots, but Serve hinted the partnership will not be renewed after it expires in 2027. Serve Robotics CEO Ali Kashani said during the recent second-quarter earnings call that from the first quarter of 2022 through the first quarter of this year, delivery volume through Uber grew for 17 consecutive quarters, but in Q2 that trend reversed for the first time due to lower-than-expected robot utilization. Kashani also noted the companies have differing views on their shared autonomous fleet and operating model. Serve reported second-quarter revenue of $3.28 million, missing a Street consensus estimate of $3.49 million, and lowered its 2026 revenue outlook to a range of $9 million to $10 million, down from a prior guide of $26 million, citing lower than expected delivery volume through its Uber Eats partnership.
Shopify delivered a blowout quarter with revenue up 34% and operating income jumping 68%, sending its stock up more than 20% in early trading, while Uber shares fell about 5% despite record free cash flow. Uber's gross bookings rose 24% year over year to $58 billion, and trailing twelve-month free cash flow surpassed $10 billion for the first time, but Wall Street reacted negatively to a revenue miss and underwhelming guidance. Disney also reported results, with revenue up 7% to $25.25 billion and segment operating income up 21%, driven by a 20% increase in experiences operating income; streaming operating income more than doubled from a year ago to $712 million. Disney announced it will sell its 50% stake in A&E Global Media to Hearst Corporation for $1.2 billion in cash and raised its share repurchase target for the year to about $9 billion. Shopify's gross merchandise volume jumped 32% in the quarter, and management expects over 30% revenue growth next quarter.
Pony.ai and Uber Expand Robotaxi Partnership Across Europe
Pony.ai announced on August 14 that it will deploy more than 2,000 robotaxis across Europe under an expanded partnership with Uber that dates back to May 2025. The rollout extends from an existing commercial service in Zagreb, Croatia to four additional European cities, with plans to reach the Middle East as well. Uber processed $58 billion in gross bookings in the second quarter, with $25 billion paid to its 10.2 million drivers, and CEO Dara Khosrowshahi has signaled autonomous vehicle cities could double to 15 by the end of 2026, backed by roughly $10 billion Uber plans to commit to partners. Uber added more first-time users over the past year than in any twelve months of the last five, with monthly active platform consumers up 16% year-over-year and trips up 18%, while non-GAAP net income climbed 29% to $1.6 billion. Pony.ai gave no timeline for the robotaxi rollout and did not name the four additional cities, and hedge fund ownership of Uber slipped from 153 funds to 147 last quarter while ownership of Pony.ai climbed from 23 to 31.
Pony AI Stock Seen as Undervalued After Uber Robotaxi Expansion Plan
Pony AI shares are drawing valuation attention after the company and Uber announced plans to deploy more than 2,000 Pony.ai Robotaxis across Europe, with additional expansion planned in the Middle East. The stock trades at US$8.14, down 49.35% year-to-date despite a 13.85% one-month rebound, and its one-year total shareholder return is down 48.68%. Simply Wall St's most followed valuation narrative places fair value at $10.00 a share, implying the stock is 18.6% undervalued, while a separate SWS fair value estimate points to $28.62. However, Pony AI trades at 32.1 times sales, far above the US Software industry at 3.9 times and peers at 5.5 times, signaling investors are already paying a heavy premium for growth.
Uber CEO Says Autonomous Cities Could More Than Double by End of 2026
Uber CEO Dara Khosrowshahi said the company's autonomous vehicle operations could expand from seven cities to 15 by the end of 2026, and that Uber will deploy around $10 billion over the next few years to help partners bring self-driving cars to market at scale. In prepared remarks for the second quarter of 2026, Khosrowshahi highlighted that Uber's platform already has 208 million monthly active customers and 10.2 million drivers, with $58 billion in gross bookings and $14.2 billion in revenue for the quarter. The company reported $2.4 billion in GAAP profit, and the CEO argued that replacing human drivers with autonomous vehicles could significantly boost revenue and profit even without adding customers. Uber's stock trades at a price-to-sales ratio of 2.8, below its historical average of 4.1 since going public in 2019, and the company is working with partners including Alphabet's Waymo, which completes over 500,000 paid autonomous trips weekly across 11 U.S. cities.
Uber Q2 revenue meets estimates but shares fall on growth concerns
Uber's second quarter 2026 revenue of $14.19 billion met Wall Street expectations, but the stock fell as investors worried about future growth and margin sustainability. Adjusted EPS was $0.81 versus estimates of $0.80, and adjusted EBITDA of $2.82 billion beat estimates by 1.6%. CEO Dara Khosrowshahi said gross bookings grew 22% year-on-year, with monthly active platform consumers up 28 million to 208 million. Management acknowledged competitive pressures in Brazil and ongoing investment in new initiatives as factors impacting near-term profitability.
Uber and Pony.ai Expand Partnership to Deploy Over 2,000 Robotaxis Across Europe
Uber Technologies and Pony.ai are expanding their partnership to deploy more than 2,000 Pony.ai Robotaxis across Europe, with plans to extend the collaboration to the Middle East. The expansion will move beyond the existing commercial service in Zagreb, Croatia, to four additional European cities, and the Zagreb service will become available on the Uber platform. Pony.ai will provide its Level 4 autonomous driving technology and deployment expertise, while Uber will offer customer access through its platform, including booking, payments and support. Local fleet partners will handle day-to-day operations in each market. The companies first announced their partnership in May 2025, and in 2026 they partnered with Croatian company Verne to launch Europe's first commercial Robotaxi service in Zagreb.
Zacks Names Amphenol Bull of the Day, Pilgrim's Pride Bear of the Day
Zacks Equity Research has highlighted Amphenol as its Bull of the Day and Pilgrim's Pride as its Bear of the Day. Amphenol, a Zacks Rank #1 Strong Buy, reported record second-quarter adjusted earnings of $1.35 per share, up 66.7% year over year and beating the consensus estimate of $1.19, with revenues surging 55% to a record $8.76 billion. The company raised its full-year expectations for the acquired CommScope connectivity and cable business to $4.6 billion in sales and 30 cents of adjusted EPS accretion, up from prior guidance of $4.1 billion and 15 cents. Pilgrim's Pride, a Zacks Rank #5 Strong Sell, posted adjusted earnings of 64 cents per share, missing the consensus estimate of 75 cents and collapsing 62.4% from $1.70 a year ago, as net sales fell 2.8% to $4.63 billion and gross profit dropped 52.5% to $339.8 million. Zacks also provided analysis on Uber Technologies, WeRide, and Amazon, noting that Uber and Wayve received Private Hire Vehicle licenses from Transport for London for several self-driving Ford Mustang Mach-E vehicles, moving them closer to launching autonomous rides in London.
Uber reported second quarter 2026 results with gross bookings up 22% year-over-year to more than $58 billion, above the high end of guidance and marking a fourth consecutive quarter above 20% growth. Non-GAAP EPS grew 35% year-over-year and trailing 12-month free cash flow exceeded $10 billion for the first time in the company's history. CEO Dara Khosrowshahi highlighted the recently announced agreement to acquire Delivery Hero, which will expand Uber's reach to nearly 100 markets, and discussed the company's ambition to become the world's leading commercialization platform for autonomous vehicles. CFO Balaji Krishnamurthy noted that Uber has bought back about $3.5 billion of stock this year and expects to rebuild share repurchase levels within months, not quarters, after deploying about $4 billion in the second quarter for Delivery Hero stock purchases. The company also discussed competitive dynamics in Brazil, regulatory considerations for autonomous vehicles, and the impact of AI on productivity and consumer experience.
Australia sets gig worker minimum wage at 31.30 Australian dollars per hour
Australia's Fair Work Commission has approved a minimum pay standard for food and goods delivery workers on platforms at 31.30 Australian dollars per hour, which is above the national minimum wage of 26.44 Australian dollars per hour. The rate is calculated based on actual working time from accepting a job until delivery is completed. The new standard also requires platform companies to provide personal accident insurance for workers while on the job and will take effect from 17 August. It is expected to cover around 250,000 workers. Uber Eats and DoorDash issued a joint statement with the Transport Workers' Union saying the new rules can increase protections while maintaining work flexibility.
Uber Technologies shares jump 9% after strong Q2 results and new takeover financing
Uber Technologies shares rose 9.0% in early August 2026 after the company reported second-quarter revenue of US$14,191 million and net income of US$2,394 million, while also arranging new unsecured term loan and revolving credit facilities to help finance its planned Delivery Hero takeover and broader corporate needs. The financing moves accompany expanding grocery partnerships and autonomous ride trials in London with Wayve, highlighting Uber's push to scale both delivery and autonomous mobility while managing balance sheet flexibility and lender requirements such as minimum interest coverage. The new credit facilities mainly affect balance sheet flexibility rather than the core investment thesis, but tighter debt covenants and AV trial performance could quickly change market perceptions.
Uber Freight investigates cyber incident after hacker claims
Uber Freight is investigating a data security incident involving unauthorized access to a portion of its systems and repositories, a company spokesperson said on Tuesday. Spokesperson Sam Hallock stated there has been no impact to business operations, which continue without disruption, and that systems are secure and fully operational. The incident was identified, contained, and remediated, and the company promptly engaged federal law enforcement. A hacking group called Helix posted what it claimed were nearly one million Uber Freight files on August 6, though Hallock did not comment on the authenticity of the data or any interaction with the hackers. The incident is part of a broader extortion campaign targeting dozens of prominent U.S. businesses and financial institutions, including Blackstone, Bridgewater Associates, Apollo Global Management, Bain Capital, KKR, TPG, CME Group, Clearlake Capital, and Moody's, according to Reuters.
Waymo Considers Ending Robotaxi Partnership with Uber
Alphabet's Waymo is considering ending its robotaxi partnership with Uber Technologies, with reports indicating Waymo notified Uber of plans to enter key markets independently starting in 2028 when the contract permits. The potential split follows the June termination of their robotaxi partnership in Phoenix and Arizona, and reflects diverging strategies: Uber aims to be a neutral aggregator of multiple robotaxi providers, while Waymo seeks vertical integration controlling technology, fleet, and customer relationships. Uber already has partnerships with Zoox, Wayve plus Nissan, Stellantis plus Wayve, and Lucid/Nuro that could help offset the loss, though losing Waymo could weaken Uber's network advantage and force deeper investments in other providers that may pressure margins. Uber stock has fallen 14% year-to-date, trades at a trailing price-to-earnings multiple of 17 times, and had 153 hedge funds holding stakes as of the first quarter.
Uber's Gross Bookings Jump 24% to $58 Billion on Broad Platform Momentum
Uber Technologies reported second-quarter results showing broad platform momentum, with gross bookings rising 24% year over year to $58.02 billion. Trips increased 18% to 3.87 billion, and monthly active platform consumers grew 16% to 208 million. Delivery revenues climbed 28% to $5.24 billion, while Delivery segment operating income rose 38% to $1.05 billion. Mobility bookings advanced 22% to $28.99 billion, and Mobility segment operating income increased 28% to $2.21 billion. The company generated $2.86 billion in operating cash flow and repurchased $518 million of common stock during the quarter.
Joby Aviation Targets September 2026 for Texas Air Taxi Flights
Joby Aviation expects to begin eVTOL Integration Pilot Program flights in Texas in September 2026, marking a key operational test as the company works toward carrying its first passengers this year. The flights will cover routes across the Dallas-Fort Worth area over a week, progressing from pilot-only operations to nonpaying and eventually paying passengers under the eIPP framework. Joby has completed or substantially completed three of five FAA type-certification stages and was about 75% through the fourth stage at the end of the second quarter, with continued progress in the fifth and final stage. Manufacturing is scaling up, with five aircraft flying as of the second quarter, including its first FAA-conforming aircraft, and 12 more in production, while the nonconformance rate in manufacturing fell nearly 40% in the first half of 2026. Toyota and Joby formed a manufacturing joint venture in June 2026, with Toyota holding 51% and Joby 49%, and Uber plans to offer Uber Air powered by Joby through its app when service launches.
Zoox to begin commercial robotaxi operations August 10 after NHTSA exemption
Amazon-owned Zoox will start charging for robotaxi rides on August 10 after receiving an exemption from the National Highway Traffic Safety Administration that allows it to operate a fleet of up to 2,500 vehicles commercially for two years. The exemption is necessary because Zoox's custom-built vehicles lack traditional controls like a steering wheel and pedals required under federal law. This regulatory win not only enables Zoox to generate revenue but also sets a precedent for other autonomous vehicle developers, including Tesla with its Cybercab, to launch driverless robotaxis without conventional controls. In related industry news, Uber CEO Dara Khosrowshahi said the company would commit $10 billion over the coming years to deploy 120,000 driverless vehicles, while Moove raised $250 million in Series C funding at a $2.1 billion valuation to scale its autonomous vehicle fleet management business, including plans to buy Waymo robotaxis.
Uber Technologies to launch licensed autonomous rides in London with over 100,000 sign-ups
Uber Technologies plans to launch licensed autonomous rides in London in partnership with AI startup Wayve, marking its first such deployment in a major global city. The service will use a hybrid model pairing AI-driven vehicles with safety-certified human drivers to meet local regulatory requirements. More than 100,000 London residents have joined a sign-up list for the service, highlighting strong public interest. The move positions Uber at the forefront of the European robotaxi market by securing regulatory approval in a city known for strict transport rules.
Gary Black Says Uber Has the Best Shot at Mass-Market Robotaxis
Investor Gary Black of The Future Fund LLC said Uber Technologies Inc. has the best chance of offering fully autonomous ride-hailing to the masses, citing its open source supplier model. Black made the comments in a post on X, contrasting Uber with Blockbuster, which he said failed to adapt to streaming. Uber reported second-quarter 2026 revenue of $14.19 billion, up 12% year-over-year but slightly below analyst estimates of $14.24 billion, while matching the consensus earnings per share of 81 cents. CEO Dara Khosrowshahi said during the earnings call that Uber expects to begin autonomous ride-hailing operations in 15 cities by the end of the year, with Nvidia-backed robotaxis launching in Los Angeles and San Francisco next year and expanding to 28 cities globally by 2028.
Lucid Stock Plunges Over 10% After CEO Unveils Operational Reset Plan
Lucid Group shares plunged more than 10% this week after new CEO Silvio Napoli outlined an operational reset that shifts focus away from selling its current luxury electric vehicles. The stock pared some of that drop but was still down 6% for the week as of Friday morning, according to data provided by S&P Global Market Intelligence. Napoli, who has been in the job for two months, is tightening the company's focus to four strategic paths, including a $1.4 billion cash flow improvement plan and advancement of its robotaxi program with Uber Technologies and Nuro, its AMP-2 manufacturing facility in Saudi Arabia, and a smaller, more affordable midsize model. The CEO summarized the plan as going back to basics with a clear focus on cash, customers, and culture, while acknowledging that selling the current Air sedan and Gravity SUV is no longer a priority.
Hackers Create 72 Fake Websites Targeting Blackstone, KKR, and CME Employee Data
A ransomware group attempted to attack dozens of major US financial and business firms by creating at least 72 fake websites to steal passwords and authentication data from employees at targeted companies such as Blackstone, Apollo Global Management, KKR, Bain Capital, Bridgewater Associates, TPG, CME Group, and Moody’s. The hackers called employees’ personal mobile phones, posing as IT support, and tricked them into updating passkeys or multi-factor authentication, then directed them to fake websites with credible-sounding names like “passkeyhelpdesk” or “secure-passkey.” Google said that over five weeks, the cybercriminal group set up digital traps for more than 200 companies, including non-financial firms like Uber, Zillow, Levi Strauss, and law firms Paul Hastings and Greenberg Traurig. In some cases, companies paid ransoms, but it has not been confirmed whether the attempted attacks on the named firms were successful.
Rivian Begins R2 SUV Deliveries as Uber Plans to Buy Up to 50,000 Units
Rivian started shipping its R2 SUV in the U.S. in early June, with a starting price of $57,990. Uber plans to purchase up to 50,000 of those SUVs over the next few years, including an initial 10,000 fully autonomous R2 robotaxis and an option for 40,000 more in 2030. Uber also intends to invest up to $1.25 billion in Rivian through 2031, contingent on the company achieving autonomous driving milestones. Rivian expects its 2026 deliveries to surge to 65,000 to 67,000 vehicles as it ramps up R2 production, following an 18% drop to 42,247 deliveries in 2025.