Shares of Uber Technologies declined slightly in Tuesday afternoon trading, falling approximately 0.3% to $73.68. The movement followed a dual announcement from the ride-hailing giant concerning its autonomous vehicle strategy and an expansion of its delivery operations.
Autonomous Ambitions in Dubai
Uber confirmed it will begin offering Baidu's Apollo Go driverless taxi service through its app in Dubai within the next month. This initiative aligns with Dubai's official target of making 25% of all transportation trips autonomous by 2030. The service will initially be available in select areas of the Jumeirah district, with future expansion contingent on operational performance and regulatory approvals. Riders will be able to select an autonomous vehicle via a dedicated option or by being matched with one when booking UberX or Uber Comfort.
Strategic Acquisition in Turkey
Separately, Uber has agreed to acquire Getir's food delivery business in Turkey for $335 million in cash. As part of a broader agreement, Uber will also invest $100 million for a 15% stake in Getir's grocery, retail, and water delivery operations. The food delivery purchase is expected to close in the second half of 2026, pending regulatory clearance. According to a filing, Getir's food delivery unit generated over $1 billion in gross bookings in 2025, growing more than 50% on a constant-currency basis.
Uber CEO Dara Khosrowshahi stated the company is "committed to investing in Türkiye for the long term." The deal follows Uber's acquisition of an 85% stake in Trendyol GO for $700 million last May.
Investor Considerations
While the announcements underscore Uber's growth initiatives, they also introduce execution risks. The autonomous rollout depends on city-specific approvals and navigating operational complexities. The Getir transaction is structured in phases, with the full benefit to Uber's financials contingent on future performance milestones.
Market participants are now focused on the imminent launch timeline in Dubai, regulatory approval for the Turkish deal, and the upcoming CFO transition on February 16, when Prashanth Mahendra-Rajah steps down and Balaji Krishnamurthy assumes the role.
