Uber Technologies Inc. (NYSE:UBER) CEO Dara Khosrowshahi sees massive potential in the self-driving sector in the near future as the ride-hailing giant posts strong first-quarter 2026 earnings.
Uber’s Business Hasn’t Been Affected By Waymo
Khosrowshahi, on Wednesday, said that Uber believed the AV sector represented a “trillion-dollar TAM [Total Addressable Market].” The CEO then outlined the company’s thesis that autonomous driving represented “huge opportunities for the entire industry.”
When asked about Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo, Khosrowshahi said that the sector wasn’t a “winner-take-all” market. “We certainly see Waymo moving very quickly as we are moving very quickly,” he said, pointing to Uber expanding self-driving services in over 15 markets by the end of 2026.
He also pointed to Uber’s partnerships with companies like NVIDIA Corp (NASDAQ:NVDA), Nuro Inc., as well as Amazon.com Inc.’s (NASDAQ:AMZN) Zoox. “Our U.S. mobility business actually accelerated more than the overall business,” he said.
“At this point, we don't see any effect of the Waymo launches on our overall business,” Khosrowshahi shared with investors, adding that the company would “continue to invest in AVs aggressively with our partnership model.”
He also said that Uber’s success in securing partnerships was high because there was demand on its platform. Notably, Uber offers Waymo robotaxis on its platform in Atlanta, as well as in Austin.
Uber Earnings
Uber reported a first-quarter revenue of $13.20 billion, which illustrated a 14% YoY jump, but was slightly below the market consensus of $13.29 billion. The ride-hailing giant’s adjusted EPS earnings came in at 72 cents per share, which was above the analyst estimate of 70 cents per share.
Uber also announced a surge in gross bookings, which climbed 25% to $53.72 billion, as well as the number of trips, which were up 20% YoY to 3.64 billion.
$10 Billion On Self-Driving
Recent reports shared Uber’s bullish sentiments on self-driving, with over $10 billion set aside by the company to bolster its Robotaxi pursuits. The commitment comprises both acquiring equity stakes in Robotaxi operators and expanding its own fleet.
The company has partnerships in place with Lucid Group Inc. (NASDAQ:LCID), by which Uber committed to purchase over 35,000 Lucid vehicles for the EV maker’s upcoming global robotaxi service. Uber also raised its investment in Lucid to $500 million. It also has a partnership with Rivian Technologies Inc. (NASDAQ:RIVN) and NVIDIA Corp (NASDAQ:NVDA).
Uber’s Robotaxi efforts were further bolstered by the launch of Europe's first commercial Robotaxi service in the Croatian capital, Zagreb, in partnership with Verne, a Croatian robotaxi company owned by performance automaker Rimac.
Khosrowshahi had also expressed optimism over a partnership with Tesla Inc. (NASDAQ:TSLA) to incorporate its Robotaxis into the Uber platform.
According to Benzinga Edge Rankings, Uber offers poor Momentum, but excellent Growth. It also fails to provide a favorable price trend in the Short, Medium and Long term.
Price Action: Uber shares surged by 9.17% during premarket trading on Thursday, currently trading at $79.64.
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