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Investing.com - Citizens JMP has reiterated its Market Perform rating on Uber Inc. (NYSE:UBER), maintaining its current outlook on the ride-sharing and delivery company. The analysis comes as the autonomous vehicle market continues to evolve, with key players like Waymo, owned by Alphabet (NASDAQ: GOOG), trading near its 52-week high of $209.23.
The firm’s analyst team views Apollo Go as Waymo’s closest international peer in the autonomous vehicle (AV) space. This assessment places Apollo Go as a significant competitor in the global self-driving technology market. According to InvestingPro, Waymo’s parent company Alphabet shows strong financial health with a market cap of $2.49 trillion, positioning it well to compete in the capital-intensive AV sector.
Citizens JMP expects Uber to increase its collaboration with Apollo Go specifically to launch autonomous vehicles in the Middle East region. This potential partnership would represent a strategic move for Uber’s international expansion of AV technology.
The firm further anticipates that Uber’s collaboration with Apollo Go could eventually extend beyond the Middle East to other international markets, suggesting a long-term strategic relationship between the companies.
Citizens JMP did not provide any changes to price targets for Uber in this rating reiteration, focusing instead on the company’s potential autonomous vehicle strategy and international partnerships.
In other recent news, Google has reached an agreement with the United States government to supply artificial intelligence and cloud services to federal agencies. This deal, known as "Gemini for government," aims to enhance the adoption of AI within government operations. Additionally, Google has unveiled the new Pixel 10 smartphone series, which features advanced on-device artificial intelligence capabilities powered by the Google Tensor G5 chip. The lineup includes several models, all equipped with Gemini AI to improve user efficiency in daily tasks.
Moreover, Google has introduced the Gemma 3 270M, a compact AI model designed for task-specific fine-tuning with built-in instruction-following capabilities. This model is part of Google’s expanding Gemma family, which has recently surpassed 200 million downloads. In a significant investment move, Google plans to invest $9 billion in Oklahoma over the next two years, focusing on cloud and AI infrastructure development. This investment will fund the construction of a new data center campus in Stillwater and expand existing facilities in Pryor, along with commitments to education and workforce development programs in the state.
In other industry news, OpenAI CEO Sam Altman has expressed interest in acquiring Google Chrome, highlighting potential future investments in data centers. Altman also acknowledged issues with the recent GPT-5 rollout but noted a surge in API traffic and user engagement.
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