Uber
Uber inks $300+ million deals for new robotaxi service. The global ride-hailing leader is getting serious about autonomous vehicles. Uber announced it’s investing $300 million in EV-maker Lucid and a similar amount in tech startup Nuro to launch a new robotaxi program that could compete with Waymo. The goal is to deploy 20,000 autonomous EVs over the next six years, starting in 2026 in a “major US city.” The deals with Lucid and Nuro underscore Uber’s strategy to outsource its robotaxi technology rather than develop it in-house as it seeks to become the go-to service for autonomous rides. Uber’s stock was mostly unchanged following the news, but Lucid’s soared nearly 40%.
New details in the Air India crash investigation. According to dialogue of the plane’s two pilots recorded by its black box, the captain, Sumeet Sabharwal, turned off fuel switches to the engines after it took off, the Wall Street Journal reported. The first officer reportedly questioned the captain’s actions before he “expressed surprise and then panicked,” while the captain remained “calm.” The investigation has not yet determined whether or not the switches were shut off on purpose. The Boeing 787 Dreamliner crashed shortly after takeoff last month, killing all but one of its 242 passengers and crew.
Netflix can’t stop winning. If Wall Street has expectations, Netflix is probably going to beat them. The streaming giant reported its Q2 financials yesterday, posting $11.1 billion in revenue (up 16% from the same period last year and ahead of estimates) while adjusting its full-year forecast up to as high as $45.2 billion. Netflix stopped divulging its subscriber figures earlier this year in order to emphasize revenue and profits...which appear to be impressing investors as much as intended. Its stock is up nearly 44% so far this year as the company has increased prices and continued to promote its ad-supported option. Netflix also debuted the trailer for the final season of Stranger Things, set to come out in three parts starting on Nov. 26.—AE
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