Uber Stock Is Moving Higher Tuesday: What's Driving The Action?

Uber Technologies Inc UBER shares are moving higher Tuesday. The company announced that it began offering autonomous ride options with Waymo in Atlanta.

What Happened: Uber on Tuesday said users in Atlanta can now be paired with a Waymo autonomous vehicle exclusively on the Uber app.

Uber said riders will be able to travel across a 65 square mile area of Atlanta at launch, with plans to expand that range in the future. Riders in Atlanta may now be matched with a Waymo fully autonomous Jaguar I-PACE vehicle. Upon arrival, riders can unlock the doors and start the trip using the Uber app.

Uber and Waymo announced an expanded partnership in September 2024 to bring autonomous ride options to Austin and Atlanta through the Uber platform. The Atlanta launch comes after the companies launched autonomous ride-hailing in Austin in March.

Competition in the autonomous space is starting to heat up with Tesla’s official robotaxi launch taking place over the weekend. Tesla officially launched robotaxi rides on Sunday through a “successful” invitation-only event, CEO Elon Musk said on X.

Riders were charged a flat fee of $4.20 per ride, but it’s not clear what the pricing strategy will look like moving forward. Uber on Tuesday said its autonomous rides will be offered at no additional cost in Atlanta.

“In Austin, where Waymo rides are also exclusively available on Uber, there are now 100 Waymo vehicles on the platform, and that number is growing as the fleet scales across both Austin and Atlanta,” Uber said on Tuesday.

UBER Price Action: Uber shares were up 3.12% at $87.90 at the time of publication Tuesday, according to Benzinga Pro.

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