Uber Technologies Inc (NYSE:UBER) shares are surging on Wednesday. Investors are cheering a massive strategic shift toward autonomous vehicle (AV) technology.
The rally comes despite reports of internal budget struggles regarding AI development.
$10 Billion Robotaxi Commitment
The Financial Times reported Wednesday that Uber committed nearly $10 billion to its Robotaxi strategy. This includes $2.5 billion for equity stakes in AV firms.
These investments depend on companies hitting specific deployment milestones. Uber also plans to spend $7.5 billion to expand its autonomous fleet over the coming years.
Strategic Global Partnerships
Uber is aggressively expanding its Autonomous Vehicles footprint through high-profile deals. The company recently partnered with Lucid Group …
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