What Happened?
Shares of ride sharing and on-demand delivery platform Uber (NYSE: UBER) jumped 5.1% in the afternoon session after the company announced an expansion of its robotaxi services through new and expanded partnerships with NVIDIA and Amazon's autonomous vehicle division, Zoox.
The plan detailed the deployment of a fleet of self-driving robotaxis powered by NVIDIA's technology. The rollout was scheduled to begin in Los Angeles and San Francisco in 2027, with a goal to expand to 28 cities worldwide by 2028. Additionally, a new deal with Amazon's Zoox aimed to bring robotaxis to Las Vegas. This strategy allowed Uber to pursue its autonomous vehicle goals without the high cost of developing its own technology, instead serving as a platform for partners. The positive news followed announcements that Uber would also invest half a billion dollars in its Argentina operations over the next three years.
The shares closed the day at $77.75, up 4.4% from previous close.
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What Is The Market Telling Us
Uber’s shares are somewhat volatile and have had 11 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 9 months ago when the stock gained 7.2% on the news that after the company announced it is expanding its autonomous ride-hailing services with Waymo to Atlanta. The move extends the partnership where Uber app users can be matched with a fully autonomous Waymo vehicle, a service already active in Austin. This expansion into a 65-square-mile area of Atlanta signals progress in Uber's strategy to integrate autonomous technology into its platform, a key area for future growth. The news comes as competition in the self-driving space heats up, with Tesla recently launching its own robotaxi service. Investor optimism was also buoyed by positive analyst sentiment regarding Uber's potential in AI and its path to sustained profitability.
Uber is down 6% since the beginning of the year, and at $77.90 per share, it is trading 22.2% below its 52-week high of $100.10 from October 2025. Despite the year-to-date decline, investors who bought $1,000 worth of Uber’s shares 5 years ago would now be looking at an investment worth $1,382.
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