Uber Nears All-Time High As Waymo Partnership Expands To Atlanta — Gary Black Calls It 'Low-Risk' While Tesla Lags In 'Supervised Autonomy' - Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL)

Future Fund LLC's managing director, Gary Black, sees minimal risk in Uber Technologies Inc. UBER as the ride-hailing giant announced the expansion of its partnership with Alphabet Inc.'s GOOGL GOOG Waymo.

Check out the current price of UBER stock here.

What Happened: "UBER +7% today and nearing a new all time high after announcing that Waymo/Uber driverless ride hailing partnership has expanded to Atlanta," the investor said in a post on social media platform X on Tuesday.

Black also outlined how the partnership has enabled Waymo to operate on the Uber platform in cities like Phoenix, Austin and Atlanta. The investor also drew parallels between Waymo and Robotaxi rival Tesla Inc. TSLA, which the investor says still operates ‘in supervised autonomy mode.'

Black also highlighted how Waymo/Uber is "exploring driverless expansion to Miami and Washington D.C. by year-end," which makes Uber's business model ‘low risk.'

Why It Matters: The comments come in as Waymo has been steadily bolstering its position in the domestic autonomous taxi industry, with recently announced expansions to other parts of California as well as New York.

The company has already established itself as a major player in the self-driving taxi sector, having already reached the 10 million paid autonomous rides milestone, something the service achieved by doubling its lifetime total of 5 million autonomous rides in five months.

Elsewhere, Tesla officially rolled out its Robotaxi service in Austin on Sunday, which was a limited rollout with over 10 Model Ys during an invite-only event.

Uber scores well on Momentum and Growth metrics, while offering satisfactory Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!

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