Uber Stock Rises on Expanded Deal with Nvidia to Rollout Robotaxis in 28 Cities

Uber Technologies UBER +1.81% ▲ stock rose 2% in Tuesday’s pre-market trading as the ride-hailing platform announced an expanded autonomous vehicle (AV) partnership with chip giant Nvidia NVDA +1.65% ▲ . The two companies plan to roll out a fleet of robotaxis powered by Nvidia’s autonomous driving software across 28 cities by 2028, starting with Los Angeles and San Francisco in 2027.

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Aside from Uber, Nvidia announced multiple deals with several companies at its GTC 2026 event to strengthen its artificial intelligence (AI) growth story. For instance, the AI GPU provider struck an expanded partnership with Hyundai Motor Company (HYMLF) and Kia Corporation (KIMTF) to advance next-generation autonomous driving technologies built on the NVIDIA DRIVE Hyperion AV development platform.

Uber, Nvidia Bolster Strategic Partnership

Uber said that Nvidia’s DRIVE Hyperion AV platform and its next-generation reasoning-based AI model for AVs, Nvidia Alpamayo, are key to the deployment of robotaxis in 28 cities across North America, Europe, Australia, and Asia.

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Furthermore, Nvidia and Uber will follow a phased deployment strategy in each city, starting with a fleet of data-collection vehicles to help train the Alpamayo engine on city-specific driving conditions. Following this phase, the fleet will advance to an operator-led launch before transitioning to fully driverless Level 4 deployments.

Competition in the robotaxis space is intensifying, though Alphabet’s GOOGL +1.09% ▲ Waymo remains the dominant player. However, Tesla TSLA +1.11% ▲ is expected to grow massively in the robotaxis market, backed by its manufacturing scale and financial resources.

Uber has been entering into multiple partnerships to grab opportunities in the AV market. It recently announced a deal with EV maker Lucid LCID -0.10% ▼ and autonomous driving startup Nuro. The companies will deploy robotaxis developed on Lucid vehicles, powered by Nuro’s self-driving software, on the Uber network.

Is UBER Stock a Good Buy?

Currently, Wall Street has a Strong Buy consensus rating on Uber Technologies stock based on 29 Buys, two Holds, and one Sell recommendation. The average UBER stock price target of $105.59 indicates 41.4% upside potential.

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