Uber Technologies stock declined 4.3% on February 24, 2026. The stock movement occurred amid broader market volatility affecting technology and software companies. A dystopian AI scenario report from Citrini Research circulated among investors on February 23-24, causing declines across multiple sectors including payment and software stocks. Uber dropped 3% following this report, which explored potential risks from rapid AI advancement and job displacement. Separately, Uber announced several business developments: the acquisition of parking app SpotHero to integrate parking services into its platform across 13,000+ locations in 400+ US and Canadian cities, the launch of Uber Autonomous Solutions to support robotaxi ventures, and CEO Dara Khosrowshahi's statement that the majority of Uber trips could be fulfilled by robots within 15-20 years. Additionally, India launched a government-backed taxi service called Bharat Taxi to compete with Uber in the Indian market.
Read full analysisUber Technologies stock declined 4.3% on February 24, 2026. The stock movement occurred amid broader market volatility affecting technology and software companies. A dystopian AI scenario report from Citrini Research circulated among investors on February 23-24, causing declines across multiple sectors including payment and software stocks. Uber dropped 3% following this report, which explored potential risks from rapid AI advancement and job displacement. Separately, Uber announced several business developments: the acquisition of parking app SpotHero to integrate parking services into its platform across 13,000+ locations in 400+ US and Canadian cities, the launch of Uber Autonomous Solutions to support robotaxi ventures, and CEO Dara Khosrowshahi's statement that the majority of Uber trips could be fulfilled by robots within 15-20 years. Additionally, India launched a government-backed taxi service called Bharat Taxi to compete with Uber in the Indian market.
Uber Technologies operates the world's largest ride-hailing platform alongside a major food delivery business (Uber Eats), connecting riders and eaters with drivers and restaurants through its mobile app in over 70 countries. The company is aggressively building autonomous vehicle infrastructure — launching Uber Autonomous Solutions to help AV partners commercialize globally, investing $100 million in charging hubs, and acquiring parking app SpotHero to deepen its consumer ecosystem. Shares remain roughly 22% below pre-earnings levels after a Q4 EPS miss, leaving them acutely exposed to the AI disruption narrative that has pressured platform stocks this week.