Rivian (RIVN) Stock Jumps 7% on Uber’s $1.25 Billion Robotaxi Deal

TLDR

• Uber plans to invest up to $1.25 billion in Rivian through 2031
• An initial $300 million investment follows deal signing, pending regulatory approval
• Uber will purchase 10,000 R2 robotaxis, with an option for 40,000 more from 2030
• Robotaxis launch in San Francisco and Miami in 2028, expanding to 25 cities across the U.S., Canada, and Europe
• Rivian stock jumped roughly 8% in premarket trading Thursday

Uber Technologies and Rivian Automotive announced a major robotaxi partnership on Thursday. Uber will invest up to $1.25 billion in Rivian and deploy up to 50,000 autonomous vehicles through its platform by 2031.

Rivian’s stock rose around 8% in premarket trading on the news. That’s a partial recovery for a stock that had fallen more than 14% so far this year.

Rivian Automotive, Inc., RIVN

Uber’s stock was largely flat following the announcement.

The initial cash injection of $300 million will come shortly after the deal is signed, subject to regulatory approval. That converts to roughly 19.55 million Rivian shares.

Four more investment tranches are planned, each tied to hitting specific milestones by unspecified dates through 2031.

Uber — or its fleet partners — will buy 10,000 autonomous versions of Rivian’s upcoming R2 vehicle. There’s also an option to purchase up to 40,000 more robotaxis starting in 2030.

The R2 is already set to go on sale to consumers this spring. Rivian has been building toward autonomy, hosting its first-ever “Autonomy and AI Day” back in December.

Rollout Plan

The robotaxis will operate exclusively through Uber’s ride-hailing and delivery platform. They’ll launch in San Francisco and Miami in 2028, before expanding to 25 cities across the U.S., Canada, and Europe.

Uber CEO Dara Khosrowshahi backed Rivian’s vertically integrated approach — designing the vehicle, compute platform, and software stack together — as a key reason for confidence in the deal.

Rivian CEO RJ Scaringe pointed to the company’s in-house inference platform, called RAP1, and its multi-modal perception system as drivers of rapid progress in autonomy.

Uber also agreed to pay licensing fees for use of Rivian’s autonomous driving software, per a Thursday regulatory filing.

Rivian’s Broader Capital Picture

This deal adds to a busy stretch for Rivian on the funding front. In late 2024, the company secured a $5.8 billion software deal with Volkswagen.

For Uber, this continues a run of robotaxi-related moves. The company has made recent announcements with Lucid, Amazon’s Zoox, Stellantis, and Nvidia.

Waymo, backed by Alphabet, currently leads the U.S. robotaxi market. Rivian’s R2 platform is being positioned as the vehicle to take on that space.

Scaringe said on Rivian’s Q3 2025 earnings call that AI and more powerful chips are what finally make robotaxis viable at scale.

The deal marks Rivian’s clearest commercial robotaxi commitment to date, with Uber providing both capital and distribution.

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