June 1, 2026
Shares of ride sharing and on-demand delivery platform Uber (NYSE:UBER) jumped 5.2% in the afternoon session after the company announced a strategic partnership with Israeli AI firm Autobrains to launch a robotaxi program in Munich, Germany.
The initiative will integrate Autobrains’ autonomous driving technology with Nvidia’s DRIVE Hyperion platform. Subject to regulatory approvals, Munich will be the first city to host the program, which aims to create a scalable model for robotaxi services. Uber stated that the city’s dense streets and regulatory framework provide the ‘right launch environment for commercially scalable autonomous mobility.’ The move aligns with the company’s longer-term strategy around autonomous vehicles, a key topic discussed by Uber’s CFO at a recent investor conference.
After the initial pop, the shares cooled down to $74.09, up 5% from the previous close.
Is now the time to buy Uber? Access our full analysis report here, it’s free.
Uber’s shares are not very volatile and have only had 8 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The previous big move we wrote about was 26 days ago when the stock gained 8.5% on the news that the company posted decent first-quarter 2026 results alongside an optimistic forecast for the upcoming quarter.
While the company’s revenue of $13.2 billion represented 14.5% year-over-year growth, it fell slightly short of analyst expectations. However, profitability was a bright spot, with adjusted earnings per share of $0.72 and adjusted EBITDA of $2.48 billion both beating Wall Street’s estimates. The company also demonstrated strong user growth, with Monthly Active Platform Consumers increasing by 29 million year-over-year to 199 million.
Capping off the positive news, Uber’s guidance for second-quarter bookings and adjusted EBITDA both came in ahead of consensus forecasts, signaling management’s confidence in continued momentum.
Uber is down 10.6% since the beginning of the year, and at $74.09 per share, it is trading 26% 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 $1,453.
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
©2026 StockStory
Data sources: actuals and consensus estimates from StockStory, S&P Global Market Intelligence, and Visible Alpha. Market data from Massive.
Provided for general information purposes only and does not constitute investment advice or a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific individual. Information on our investment framework and performance methodology is available here.
Copyright 2026, S&P Global Market Intelligence (and its affiliates as applicable). All rights reserved.
Leave a Reply