Uber Stock Surges Following Waymo Robotaxi Expansion in Atlanta

Uber shares climbed Tuesday after the rideshare giant officially launched Waymo's autonomous vehicle service in Atlanta, marking its second major U.S. market following Austin. The partnership now covers approximately half of Georgia's capital city, allowing users to opt for driverless rides.

The stock's 39% year-to-date rally approaches its May 20 intraday peak of $93.60, with JPMorgan among firms upgrading targets citing autonomous sector growth. Analysts note potential headwinds from Tesla's competing Robotaxi initiative, though Waymo's technological lead currently buffers Uber's position.

CEO Dara Khosrowshahi's public courtship of Elon Musk for a potential Tesla collaboration underscores the strategic stakes. "We really want to partner with the autonomous industry," Khosrowshahi told the Financial Times last year, acknowledging Musk's formidable competitive edge while leaving the door open for cooperation.