.September 14, 2024 at 4:00:17 PM

Citigroup’s reaffirmation of a “Buy” rating on Uber Technologies Inc. (NYSE:UBER) underscores confidence in the company’s future, especially after partnering with Waymo. The collaboration is expected to make Uber a leader in autonomous transportation, with driverless rides in select cities. Uber’s stock surged over 5% to $72.48 post-announcement, reflecting investor optimism about the company’s potential to revolutionize ride-hailing with autonomous vehicles. The partnership leverages Uber’s vehicle operations and Waymo’s autonomous technology, accelerating the adoption of self-driving technology for urban mobility. Market capitalization stands at approximately $152.28 billion, indicating strong market confidence in Uber’s strategic direction and growth potential in autonomous vehicles.