Uber to invest more than $10 billion in self-driving cars

By the Editorial Team · Thursday, August 6, 2026

Uber announced it will invest over $10 billion in autonomous vehicle technology while reporting second-quarter gross bookings of $58.02 billion, driven by strong global demand and major events like the FIFA World Cup. The company's sizable investment and recent $14.8 billion acquisition of Delivery Hero underscore its strategy to strengthen its presence in self-driving cars and expand delivery services, even as shares fell on the earnings report.

Uber Technologies announced plans to invest more than $10 billion in autonomous vehicle technology over the coming years, signaling a continued commitment to expanding its presence in the self-driving car sector. The company did not specify a timeline for this investment during its recent financial update.

In its second-quarter results, Uber reported gross bookings of $58.02 billion, surpassing analysts’ expectations of $57.06 billion. Adjusted core earnings also exceeded estimates. The company attributed the strong performance to broad-based demand across regions and service lines, notably including increased travel activity linked to the FIFA World Cup, which saw more than 8 million tourists use Uber in host cities. Revenue rose 12 percent to $14.19 billion, slightly below forecasts of $14.24 billion due to an accounting change in the U.K. that affected reported sales growth but not the underlying business fundamentals.

Operating expenses increased approximately 10 percent in the quarter, driven by higher spending in marketing, research, and administrative functions. Despite the rise in costs, Uber noted it had added more first-time users in the past year than during any comparable period over the last five years, contributing to a 24 percent increase in gross bookings.

Looking ahead, Uber forecast third-quarter gross bookings between $58.25 billion and $60.25 billion, in line with market expectations of roughly $59.21 billion. The company cautioned that foreign exchange rates would reduce reported growth in third-quarter gross bookings by about one percentage point compared to the previous year, following several quarters of robust booking growth.

Uber’s strategic outlook remains focused on capital allocation amid its recent $14.8 billion acquisition of Delivery Hero, a deal the company plans to finance through a combination of existing liquidity and debt. The sizable investment in autonomous vehicles and acquisitions highlights Uber’s intent to deepen its foothold in emerging transportation technologies and expand its delivery services.

Shares of Uber fell $4.86, or 6.8 percent, to $67.12 in midday trading in New York following the earnings announcement.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.