Uber Technologies, Inc.UBER is actively forging ahead to expand its ventures in the field of autonomous driving technology. To this end, UBER is gearing up to embark on a new journey through its strategic partnership with NVIDIA.
The collaboration aims to enhance the development of AI-powered autonomous driving technology. This tie-up is expected to use Uber's huge data set (available from the multiple daily trips) embedded into NVIDIA's advanced platforms, the Cosmos and DGXCloud systems.
NVIDIA Cosmos is a new platform of state-of-the-art generative world foundation models, tokenizers, and accelerated data processing and model customization pipelines designed for developing physical AI systems like robots and autonomous vehicles.
NVIDIA DGX Cloud is a high-performance, fully managed AI platform preconfigured with the latest NVIDIA architecture and software. DGX Cloud delivers day-one productivity and maximum resource utilization for AI model development across multi-cloud environments.
Dara Khosrowshahi, CEO of Uber, stated, “Generative AI will power the future of mobility, requiring both rich data and very powerful compute. By working with NVIDIA, we are confident that we can help supercharge the timeline for safe and scalable autonomous driving solutions for the industry.”
NVIDIA is not the only company UBER is partnering with for autonomous driving technology.
In December 2024, Uber partnered with WeRide, marking the launch of the first autonomous vehicles on the Uber platform outside of the United States in Abu Dhabi.
In October 2024, UBER collaborated with Avride, a U.S.-based autonomous vehicle startup. The partnership aims to bring Avride’s innovative delivery robots and autonomous vehicles to Uber and Uber Eats. Launched in 2014, Uber Eats is an online food ordering and delivery platform.
Driven by this tech-savvy initiative, shares of UBER have rallied 12.3% over the past year compared with the industry’s growth of 38%.
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UBER’s Zacks Rank & Price Performance
UBER currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Investors interested in the Zacks Computer and Technology sector may also consider some better-ranked stocks, such as Dropbox, Inc. (DBX) and Lyft, Inc. (LYFT).
Dropbox currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DBX has an expected earnings growth rate of 9.62% for the current year. The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average beat of 13.33%. Shares of DBX have risen 0.8% in the past year.
LYFT currently carries a Zacks Rank #2 (Buy). LYFT has an expected earnings growth rate of 14.75% for the current year. The Zacks Consensus Estimate for LYFT’s 2025 earnings has been revised upward by 14% in the past 90 days.
The company has an encouraging track record regarding earnings surprises, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 68.87%. Shares of LYFT have gained 6.2% in the past year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>Dropbox, Inc. (DBX) : Free Stock Analysis Report
Lyft, Inc. (LYFT) : Free Stock Analysis Report
Uber Technologies, Inc. (UBER) : Free Stock Analysis Report
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