Uber Technologies, Inc. (NYSE:UBER) is one of the stocks mentioned during the show, as we cover everything Jim Cramer said about the market. Cramer highlighted the company’s partnership with NVIDIA, as he stated:
Now that we’re back from California, I want to go over one big story from NVIDIA’s GTC extravaganza. It’s really not getting any attention at all, especially today with the market so bad. Earlier this week, NVIDIA announced it’s expanding its autonomous driving partnership with Uber. They plan to launch a global fleet of self-driving cars that run on NVIDIA software starting in San Francisco and LA. It’s going to be sometime in the first half of next year.
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Now, some analysts have written up the news claiming that this NVIDIA news was very positive, and I couldn’t agree more. Of course, I’ve liked Uber for years. I still think the company can make plenty of money now by being the number one rideshare platform and the number two food delivery app. I still think they’ll be a major player in robotaxis, either through their own vehicles or someone else’s, because anybody can plug that technology into Uber’s rideshare network. But what changed this week is that Uber’s self-driving strategy now has the NVIDIA imprimatur. And with each new announcement, we can get more visibility into what the robotaxi strategy looks like. And that’s why the stock found its footing this week, and it’s just beginning.
A stock market data. Photo by AlphaTradeZone on Pexels
Uber Technologies, Inc. (NYSE:UBER) operates technology platforms that connect users for mobility, delivery, and freight services. The company provides ridesharing, food and retail delivery, and digital freight logistics. We recently mentioned Uber while discussing the best FAANG+ stocks to invest in. You can read more here.
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.
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