Uber sells $476M stake in Aurora Innovation and expands drone delivery

Uber Technologies has engaged in significant equity movements involving its autonomous driving interests and its own stock. Through its subsidiary Neben Holdings, Uber executed a block trade selling approximately 67.5 million shares of Aurora Innovation, valued at roughly $476 million. Despite this sale, Uber remains a major shareholder in the autonomous trucking startup, retaining about 258.5 million shares, or 15.6% of the company.

Regarding its own stock, institutional investors have shown mixed activity. Bailard Inc. reduced its position in Uber by 12.4% during the second quarter, while Bridgewater Advisors Inc. and S&CO Inc. acquired new stakes.

In broader strategic developments, Uber is expanding its logistics capabilities through a partnership with Zipline. The collaboration aims to introduce autonomous drone delivery for Uber Eats in U.S. markets, including Dallas and Houston, later this year. The companies are targeting up to one million deliveries per day by the end of 2029.