Uber Stock Shifts To Top Gear On Nvidia Tie-Up, Accelerated Buyback Program: Retail Joins The Ride
By Stocktwits Inc | First Published Jan 7, 2025, 9:33 PM ISTThe firms are looking to pair the vast data from the millions of rides on Uber’s platform with the NVIDIA Cosmos platform and NVIDIA DGX Cloud to help AV partners build stronger AI models even more efficiently.
Shares of Uber Technologies Inc (UBER) continued their rally since the beginning of 2025, climbing over 2% on Tuesday after the company announced it is collaborating with Nvidia Corp (NVDA) on new solutions to support the development of AI-powered autonomous driving technology.
The firms are looking to pair the vast data from millions of rides on Uber’s platform with the NVIDIA Cosmos platform and NVIDIA DGX Cloud to help AV partners build stronger AI models even more efficiently.
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The Cosmos platform eliminates cost and resource barriers, helping democratize access to tools for developing physical AI. NVIDIA DGX Cloud is a high-performance, fully managed AI platform preconfigured with the latest NVIDIA architecture and software.
Uber CEO Dara Khosrowshahi said generative AI will power the future of mobility, requiring both rich data and very powerful computing. “By working with NVIDIA, we are confident that we can help supercharge the timeline for safe and scalable autonomous driving solutions for the industry.”
Uber stock has also been in the limelight after announcing an accelerated stock buyback program worth $1.5 billion, part of its $7.0 billion share repurchase authorization.
Uber said it will pay $1.5 billion to the dealer and expects to receive an initial delivery of over 18.57 million shares of Uber common stock. This represents approximately 80% of the shares of Uber's common stock it expects to repurchase under the ASR agreement.
Meanwhile, a WSJ report stated that Uber and Lyft are getting ready to accommodate their competitors and bring driverless taxis into action with new app features that will permit customers to use their phones to open trunks and honk horns. The report noted that both companies will have driverless cars on their apps this year.
In the wake of these developments, retail sentiment on Stocktwits climbed further into the ‘extremely bullish’ territory (80/100). This was accompanied by ‘extremely high’ retail chatter that hit highs last seen in April 2024.
Most retail chatter on Stocktwits indicated optimism surrounding the stock.
Notably, Uber shares have gained over 13% over the past year.
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