Uber, Nebius invest up to $375 million in autonomous vehicle firm Avride

AUSTIN - Autonomous driving technology developer Avride has secured strategic investments and commercial commitments totaling up to $375 million from Uber Technologies, Inc. and Nebius Group (NASDAQ:NBIS), according to a press release statement. Nebius Group, which has seen its stock surge over 500% in the past year according to InvestingPro data, continues to expand its technology investments.

The funding builds upon Avride’s existing commercial partnership with Uber, following a multi-year strategic agreement signed in 2024. Avride plans to launch its robotaxi service on the Uber platform in Dallas by the end of 2025.

The company’s delivery robots are already operating on the Uber Eats platform, fulfilling orders for hundreds of restaurants in Jersey City, Austin, and Dallas. The new capital will help Avride accelerate fleet growth, support AI-driven product development, and expand into new geographic markets.

"We’re delighted to welcome Uber as a strategic investor that shares Avride’s vision and will enable the company to move further and faster in pioneering AI-driven autonomous transportation," said Arkady Volozh, founder and CEO of Nebius Group.

Sarfraz Maredia, Global Head of Autonomous Mobility & Delivery at Uber, stated: "We’re excited to continue deepening our partnership with Avride and look forward to introducing their autonomous driving technologies to more people in more markets."

Headquartered in Austin, Texas, Avride develops both autonomous cars and delivery robots that share technologies. The company has been building expertise in autonomous technologies since 2017, with its delivery robots having completed hundreds of thousands of orders in the U.S. and overseas.

Nebius Group (NASDAQ:NBIS), an Amsterdam-headquartered technology company building infrastructure for the global AI industry, is also an investor in Avride. The company has demonstrated strong financial performance, with revenue growth exceeding 106% in the last twelve months. InvestingPro analysis reveals the company maintains a healthy liquidity position with a current ratio of 14.7, while operating with moderate debt levels. For detailed insights and 12+ additional ProTips about NBIS, investors can access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Nebius Group has successfully raised $1.15 billion through a Class A share offering, with underwriters exercising their option to purchase additional shares at $92.50 each. This offering, along with a convertible notes sale, has brought the total proceeds to approximately $4.3 billion. The convertible notes, split into two series due in 2030 and 2032, amounted to a total of $3.16 billion. Additionally, Northland has significantly increased its price target for Nebius Group from $77 to $206, maintaining an Outperform rating. This adjustment follows Nebius Group’s deal with Microsoft, which Northland attributes to the company’s scarcity value and attractive economics. In other developments, Noba Bank Group has announced plans for an initial public offering on the Nasdaq Stockholm, valuing the company at $3.74 billion. This IPO will involve existing shares held by current shareholders. These recent developments highlight significant financial activities and strategic moves within these companies.

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