In Q2, major hedge funds like Pershing Square and Appaloosa increased their stakes in Uber, signaling confidence despite flat stock performance. Uber faces rising competition from autonomous vehicle (AV) leaders like Waymo and Tesla but is betting $10 billion on robotaxis to stay competitive. This investment marks a shift from Uber's capital-light model to a more capital-intensive approach, aiming to leverage its large rider network for AV fleet utilization. The move could boost margins and help Uber maintain market share as the ride-hailing industry evolves with AV technology.
Aurora Innovation's stock fell 11.8% to $6.15 after reporting Q2 FY2026 revenue of $2 million, beating estimates, but with a widened net loss of $270 million. The company leads in driverless Class 8 trucks with strong operational milestones and regul...
Serve Robotics slashed its full-year 2026 revenue guidance to $9-10 million from $26 million, causing its shares to fall 7% and erasing a recent rally. The downgrade was driven by weaker Uber Eats delivery volumes despite new partnerships with Grubhu...
Uber is expanding its U.S. delivery service by partnering with drone company Zipline to offer autonomous drone deliveries through Uber Eats starting later this year. This collaboration aims to provide customers with orders delivered within 5-10 minut...
Uber is investing in and partnering with drone delivery startup Zipline to enable drone deliveries on Uber Eats, starting by the end of 2024 in Zipline's current markets. The goal is to reach one million deliveries per day using Zipline's drones by 2...
