Uber Invests $500 Million in Canadian AI Startup Waabi to Deploy 25,000 Robotaxis
Ride-hailing giant partners with self-driving truck company to accelerate autonomous vehicle ambitions
The investment marks Uber's renewed push into autonomous vehicles after the company sold its self-driving unit in 2020. Waabi, founded by AI researcher Raquel Urtasun, has developed simulation-first autonomous driving technology initially focused on trucking.
The partnership will extend Waabi's technology to passenger vehicles on Uber's platform, potentially transforming the economics of ride-hailing.
Analysis
Why This Matters
Robotaxis could fundamentally change Uber's business model from a ride-matching platform to a fleet operator, dramatically improving margins by eliminating driver costs.
Background
Uber previously invested heavily in self-driving before selling its troubled unit to Aurora. This investment signals the company isn't ceding the autonomous future to competitors like Waymo.
Key Perspectives
Bulls see robotaxis as Uber's path to profitability; skeptics note the technology has faced repeated delays industry-wide.
What to Watch
Timeline for actual robotaxi deployments and regulatory approval in key markets.