Uber Technologies plans to invest up to $1.25 billion in Rivian Automotive through a multiyear deal. The agreement could put as many as 50,000 self-driving vehicles on ride-hailing and delivery networks in three countries by 2030.
The deal, announced Thursday, focuses on Rivian’s upcoming R2 electric vehicle. Uber and its partners will first buy 10,000 self-driving versions of the R2, with the option to add up to 40,000 more starting in 2030. An initial $300 million investment, equal to about 19.55 million Rivian shares, is set to close soon if regulators approve. Four more payments will depend on meeting certain performance goals through 2031.
According to the agreement, R2 robotaxis will run only on Uber’s platform in 25 cities across the United States, Canada, and Europe. San Francisco and Miami will be the first cities to launch, with service expected to start in 2028. Uber will also pay to use Rivian’s special self-driving software.
After the news, Rivian’s stock went up by almost 4%, while Uber’s shares fell slightly.
This deal adds to Rivian’s recent partnerships with other big companies. The Michigan automaker signed a $5.8 billion software deal with Volkswagen in late 2024. The Uber partnership is another sign of trust in Rivian’s approach, which combines vehicle design, computing, and manufacturing in one system.
For Uber, this deal strengthens its self-driving vehicle plans, which already include partnerships with Lucid, Zoox, Stellantis, and Nvidia. Uber has had trouble turning its robotaxi goals into real business, a problem faced by many in the industry.
This news comes as investors show growing excitement about self-driving technology, with experts predicting the market could be worth trillions in the long run. Waymo, owned by Alphabet, is currently the leader in U.S. robotaxi services. Rivian’s leaders say that improvements in artificial intelligence and powerful computer chips could help new companies compete, thanks in part to Rivian’s own Autonomy Processor and its growing network of vehicle data.
Featured CoursesRecent news
ServiceNow and Software Stocks Lead Sector Recovery on AI Hopes
Software stocks are making a comeback. ServiceNow jumped 8.8% on Monday, marking its largest one-day gain in over a year. This surge followed BofA Securities reinstating coverage with a Buy rating, which helped restore investor confidence in a sector that faced pressure in 2026 over concerns that AI might replace, not support, enterprise software. Here’s […]
GE Aerospace Stock Rises as AI Cuts Hypersonic Engine Design Time
GE Aerospace is showing investors what artificial intelligence looks like when applied to one of the world’s most technically demanding industries. Shares rose 1.58% Tuesday as the company revealed that researchers at its Niskayuna, New York, facility used an in-house generative AI tool to produce a preliminary hypersonic ramjet engine design, compressing a process that […]
Nvidia Shares Slip 1.1%: Why a 3-Day Losing Streak Could Be Good News
Nvidia is heading into its most anticipated earnings report of the year on the back foot, and that may be exactly what the stock needs. Shares fell 1.1% in premarket trading Tuesday, extending a three-day pullback from last Thursday’s closing high of $235.74. For investors watching closely, a lower entry point ahead of Wednesday’s results […]
Trade with fewer limits
Day trade with fewer limits at fast speed. Buy stocks and ETFs at low fees.