Latest news with #autonomousvehicles
Yahoo
2 hours ago
- Business
- Yahoo
Africa's Moove Just Raised $1.2B to Take On Tesla in Self-Driving Race
Uber (NYSE:UBER)-backed Moove, the African-born ride-hailing disruptor, is reportedly closing in on a $1.2 billion debt raise to fund its boldest move yet: rolling out a U.S.-based autonomous vehicle fleet in partnership with Alphabet's Waymo. According to sources close to the deal, the round is oversubscribed with strong appetite from both private credit players and traditional lenders. Moove isn't commenting on specifics, but co-founder Ladi Delano confirmed that the company has already repaid its earliest debt facilitiesan early signal of financial maturity as it positions itself for the next leg of global expansion. Warning! GuruFocus has detected 6 Warning Sign with UBER. Originally launched in 2020 to finance vehicles for African gig drivers, Moove now operates across more than a dozen countries, including India, Mexico, and the UAE. Its platform has scaled to 38,000 vehicles, and revenue has surged to nearly $400 million year-to-dateup from $275 million in 2024, according to people familiar with the matter. After striking a partnership with Waymo in late 2024, Moove is now preparing to own and operate a U.S.-based self-driving fleet powered by Waymo tech. That's a major pivot from a leasing-first model to controlling autonomous operations directlya move that could potentially reshape its unit economics and investor appeal. Moove's shift toward autonomy isn't just about catching the next waveit's about controlling the surfboard. With a young, digital-native population in its home market and proven traction abroad, Moove is positioning itself as more than just another fleet operator. If this $1.2 billion raise lands as expected, the company could be entering a very different leagueone where infrastructure ownership, repayment credibility, and technology partnerships unlock new optionality for both growth and monetization. Investors watching the evolving autonomous ecosystem may want to keep an eye on how this Nigerian-born player carves out its U.S. playbook. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
5 hours ago
- Business
- Yahoo
Uber Eyes Pony.ai's U.S. Unit in Potential Deal Backing Founder Travis Kalanick
Uber Technologies, Inc. (NYSE:UBER) ranks among the best FAANG stocks to buy according to hedge funds. Bernstein maintained its $95 price target and Outperform rating on Uber Technologies, Inc. (NYSE:UBER) following reports that the company would be considering purchasing US operations. Uber Technologies, Inc. (NYSE:UBER) is reportedly in talks to support Travis Kalanick, its founder and former CEO, in his attempt to acquire the Chinese automaker's US operations, according to the New York Times. The discussions are still in their early stages, with little financial information provided and no clear definition of Uber's precise role. According to Nikhil Devnani, an analyst at Bernstein, the deal seems to be a possible equity investment from Uber Technologies, Inc. (NYSE:UBER) and other investors, with Kalanick positioned to manage the company and collaborate with Uber's network. The analyst stated that this 'creative deal' might be spurred by regulatory issues that make Chinese autonomous vehicles 'untenable in the US.' Uber Technologies, Inc. (NYSE:UBER) is a prominent global supplier of ride-hailing, food delivery, and freight services. Since its inception, the company has revolutionized urban transportation by bringing drivers and passengers together via its mobile app. While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Automotive
- Yahoo
Nvidia, Qualcomm, and More Could Gain From Growing Autonomous Vehicle Market, BofA Says
Nvidia, Qualcomm, and Caterpillar are some of the stocks Bank of America analysts said could gain from a growing autonomous vehicle market, along with robotaxi makers. Google parent Alphabet's Waymo, Amazon's Zoox, and Tesla are companies that make robotaxis in the U.S., and they are all buyers of Nvidia chips. Bank of America analysts said they expect the autonomous vehicle market could be worth $1.2 trillion by (NVDA), Qualcomm (QCOM), and Caterpillar (CAT) are some of the stocks Bank of America analysts said could be set to benefit from a growing autonomous vehicle market, along with robotaxi makers. The analysts identified over two dozen stocks in a note to clients Tuesday for exposure to an expanding AV market they believe could be worth $1.2 trillion by 2040, including makers of sensors and chips, as well as insurance providers like Progressive (PGR). Hardware giants Nvidia and Qualcomm could be set for growth as the makers of the "brain" behind the vehicles, Bank of America said, along with sensor and chipmakers like Aptiv (APTV) and Mobileye (MBLY). Google parent Alphabet's (GOOGL) Waymo, Amazon's (AMZN) Zoox, and Tesla (TSLA) are some of the companies with robotaxis in the U.S., and they are all buyers of Nvidia chips. With Waymo partnerships, Uber (UBER) and Japan's Toyota (TM) also made Bank of America's list, as well as several Chinese firms including XPeng (XPEV), Pony AI (PONY), and Baidu (BIDU). The analysts added that AV opportunities could extend to makers of agricultural equipment like Caterpillar, Deere & Co. (DE), and companies in freight, logistics, and public transport. "Much of the attention and deployment of this technology have so far focused on the car. But other types of on- and off-road autonomous vehicles are beginning to emerge, indicating that anything that moves could be set for automation, vastly increasing the addressable market and potential of this disruptive technology," they said. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
8 hours ago
- Automotive
- Yahoo
Cyngn Stock Soars as Nvidia Partner Covers Costs Through 2027
Cyngn said it raised $32 million in a shelf offering last week, and that will cover its expenses through 2027. The maker of autonomous industrial vehicles recently announced a collaboration agreement with Nvidia. Cyngn has moved to a bigger headquarters to keep up with of Cyngn (CYN) took off Wednesday when the maker of self-driving industrial vehicles announced it raised enough cash in a shelf offering to cover its expenses through 2027. CEO Lior Tal wrote in a letter to shareholders that the company brought in $32 million last week. That's also when Cyngn made headlines by striking a collaboration agreement with Nvidia (NVDA). Tal added that the firm's DriveMod autonomous vehicles are "now operating in warehouse aisles and across factory floors around the clock, delivering measurable improvements to safety, productivity, and labor costs." Tal said that Cyngn machines have been deployed at several new sites across industries in recent months, including manufacturing, automotive, logistics, and consumer-packaged goods. Tal explained that to keep up with demand, Cyngn has moved into a new, larger headquarters office in Mountain View, Calif. Tal noted that the deal with Nvidia to use the chipmaker's Isaac robotics platform "has helped us move faster." Despite today's 12% advance, Cyngn shares are down nearly 90% in 2025. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
11 hours ago
- Automotive
- Yahoo
Tesla reportedly preps game-changing upgrade to its vehicles: 'Could be as much as 10 times more capable'
The electric vehicle market is booming, and upgrades within the Tesla universe could bring us closer to an autonomous vehicle future and more powerful cars. According to Not a Tesla App, Tesla is planning to upgrade its Full Self-Driving hardware to 10 times the power of the previous iteration. The new tech, called AI5, may be manufactured by both Samsung and the Taiwan Semiconductor Manufacturing Co. "Tesla is preparing for the production of its new AI5 FSD computer with a performance target of 2,000 to 2,500 trillion operations per second," Not a Tesla App reported. "... During a past earnings call, [CEO] Elon [Musk] claimed AI5 could be as much as 10 times more capable than HW4, which would imply an astronomical 5,000 TOPS." TOPS is the measurement used to assess the notional optimal performance of AI hardware, essentially detailing the capabilities of various artificial intelligence accelerators. While the increase in Tesla's TOPS target would mean faster, smarter cars, gearing the company up to scale up its robotaxi endeavor, it would also require more power. That's where Gigafactories come in, as they house supercomputers to train the AI. Automated cars, or FSD models, are huge for Tesla right now after the company dropped to low points as Musk's activity within the Trump administration led many to bail on the brand and even protest it. The benefits are nearly endless when it comes to switching to an EV. Not only can you save tons of money by not having to refill gas or change oil, but you also won't be pumping pollution from those dirty fuels into the air from your tailpipe. The planet, and your wallet, will thank you. To optimize your savings from EV ownership, solar panels can fuel your vehicle cheaper than using public charging stations or relying on the grid, bringing your monthly cost down to near $0. EnergySage makes it easy to compare quotes from vetted local installers and save up to $10,000 on a solar installation. If purchasing solar panels is out of your budget, Palmetto's LightReach leasing program will install panels for no money down and let you lock in low energy rates. If you were going to purchase an EV, which of these factors would be most important to you? Cost Battery range Power and speed The way it looks Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.