Uber to invest up to $1.25 billion in EV maker Rivian in deal to launch 50,000 robotaxis
CNBC
Uber plans to invest up to $1.25 billion in Rivian as part of a deal to deploy up to 50,000 robotaxis in several countries through 2031.
Uber Technologies plans to invest up to $1.25 billion in electric vehicle maker Rivian Automotive as part of a deal to deploy up to 50,000 robotaxis in several countries through 2031, the companies announced Thursday.
The tie-up includes expectations for Uber, or its fleet partners, to purchase 10,000 autonomous versions of Rivian's upcoming R2 electric vehicle, with the option to buy up to 40,000 more robotaxis beginning in 2030, according to a release from the companies.
Shares of Rivian were up roughly 8% to 10% during premarket trading Thursday, while Uber's stock was relatively flat following the announcement.
Discussions between Starbucks and the union representing about 6% of its company-owned U.S. stores hit a wall last year.
Blackstone appears to be rebalancing its real estate investment trust portfolio, selling off legacy holdings.
MacKenzie Scott and many of America's richest are absent from the latest Philanthropy 50 ranking.
Experts say the global turmoil may have even helped demand for rare collectibles, as the wealthy search for safe, long-term stores of value.
Some airlines are already raising fares after a historic surge in jet-fuel costs.
The Iran conflict is disrupting fertilizer shipments through the Strait of Hormuz, raising supply concerns and potentially increasing global food inflation.
JPMorgan's move shows that the biggest U.S. bank by assets wants to get ahead of potential turbulence involving private credit loans to software companies.
Ford CEO Jim Farley last month said diversifying Pro's revenue — specifically in software — is a crucial growth area for the company.
Home sales made a small gain to start the year, but higher mortgage rates now could throw cold water on the spring season.
The move comes months after the Trump administration touted leucovorin as a potential therapy for a broader group of patients with autism symptoms.
Lego on Tuesday reported a 12% jump in revenue for fiscal year 2025 and reported consumer sales that far outpace the broader toy industry.
Live Nation, which owns Ticketmaster, reached a settlement with the Department of Justice over antitrust concerns.
A growing number of consumers are seeking out third spaces and membership clubs surrounding wellness, to improve their health while also socializing.