Serve Robotics, Little Caesars launch autonomous robot delivery via Uber Eats
Elevate Your Investing Strategy:
Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
26 minutes ago
- Miami Herald
Tesla just got its biggest break yet in the robotaxi wars with a key permit
Every so often, Tesla (TSLA) makes a headline-grabbing move that seems more like a turning point hiding in plain sight. No flashy event, just a subtle permit that could potentially become the foundation for something much bigger in the robotaxi race. Don't miss the move: Subscribe to TheStreet's free daily newsletter And while the EV giant has massive long-term ambitions, this one could open up a path to a business that might rewrite the rules of an entire sector. In the robotaxi space, where a first-mover advantage can make or break the competition, this step could be massive as Tesla moves from talking about the future to building it. Tesla's robotaxi ambitions began in Texas back in late June, when it launched a paid, invitation-only pilot in Austin. The early program was operated within a tight geofenced zone, with the first users reporting long waits and limited coverage. However, since then, Tesla has expanded quickly, and as per its Phase 3 rollout, it has reportedly doubled the geofence, testing and refining its Full Self-Driving (FSD) v12 software in live service. Related: Jim Cramer delivers straight talk on tricky S&P 500 market Still, the road's been anything but smooth, led by multiple lawsuits and regulators keeping a close eye on matters. Also, reporting suggests that Tesla has shelved its in-house Dojo AI training project, opting for external computing resources. Competition is fierce, too. Google's Waymo remains the U.S. leader, operating its driverless fleet across roughly 250 square miles in Los Angeles and the San Francisco Bay Area. Also, Phoenix is still active, and with Dallas now coming online through a partnership with Avis, Waymo is set to go beyond its recent feats (completing a million rides recently). Uber is taking a much different route, working as an aggregator instead of building its own autonomous vehicle. It's already integrating Waymo rides in Austin and Atlanta, and inked a massive, multi-year deal with Lucid and Nuro to deploy over 20,000 autonomous Lucid Gravity SUVs over six years. Lucid's Gravity-based robotaxi, equipped with Nuro Driver, recently began closed-circuit autonomous testing and is eyeing launch in the first city via Uber's platform. The AV race is also heating up overseas. Baidu's Apollo Go is running a fully driverless service in 10+ Chinese cities, while secured permits for paid rides in Shanghai. Similarly, upstarts like DiDi and WeRide are preparing for major expansions into newer global markets. Though forecasts differ, analysts agree that the robotaxi industry is set for explosive expansion over the next few years. Goldman Sachs projects that the global robotaxi rideshare market could potentially grow by an estimated 90% compound annual growth rate through 2030. In China alone, Goldman expects the market to hit close to $12 billion by 2030 and $47 billion by 2035. That effectively translates to 500,000 vehicles in service by 2030 and 2.3 million by 2035. Related: Surprising AI chip stock is up 90% in 30 days (and still climbing) Grand View Research offers a similar view, estimating the global market to grow from $1.95 billion in 2024 to a whopping $43.7 billion by 2030, a CAGR of about 73.5%. Early traction suggests that demand is likely to come to fruition, especially with Waymo already delivering millions of rides, and by late 2024, it was handling roughly 100,000 rides a week across its service areas. For Tesla, the stakes are even higher. Cathie Wood's ARK Invest argues that without a viable robotaxi business, Tesla's long-term valuation will be significantly lower. Elon Musk has repeatedly cited autonomy as Tesla's defining product roadmap. If Tesla can match or exceed Waymo's operational scale while clearing regulatory and safety bottlenecks, the payoff could be transformative. Tesla just checked off a major box in its push to dominate the robotaxi space. The EV behemoth just secured a critical rideshare license in Texas, which clears the way for its Robotaxi service to operate in the state. The breakthrough puts Elon Musk's company in the same regulatory category as Uber and Lyft, but without the human driver. More News: Veteran analyst drops 6-word verdict on Apple's $100 billion investmentBank of America drops shocking price target on hot weight-loss stock post-earningsJPMorgan drops 3-word verdict on Amazon stock post-earnings Also, the timing effectively lines up with a shift in the state's law. Starting September 1, Texas will need autonomous rideshare services to meet the same regulatory standards as traditional ones. That includes mandatory cameras, insurance coverage, and adhering to traffic laws, which adds another layer of accountability to the whole operation. The license builds on Tesla's recent Robotaxi pilot in Austin. With Texas in the bag, Tesla is looking at Nevada, Arizona, California, and Florida next. These states have been a lot more open to the daunting autonomous driving technology. Tesla's regulatory woes are far from settled, but the Texas license marks a major step toward its CEO's vision for a driverless future. Related: Morgan Stanley resets AMD stock price target after earnings The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business Insider
15 hours ago
- Business Insider
David Sacks says the doomsday scenario of AI wiping out jobs is 'overhyped'
David Sacks, the White House AI and crypto czar, is throwing cold water on the AGI hype train. AI companies are racing to achieve AGI, or artificial general intelligence, commonly considered a form of AI that can reach human levels of reasoning. The continued advancement of AI has led some to believe that the technology will lead to a large-scale wipeout of jobs or even worse outcomes, like human extinction. Sacks, a tech investor who has supported major companies such as Airbnb, Facebook, and Uber, wrote in an X post on Saturday that AI hasn't progressed as quickly as many have predicted — specifically, the idea that AI will "self-improve" and rapidly achieve "godlike superintelligence" has been blown out of proportion. "None of this is to gainsay the progress. We are seeing strong improvement in quality, usability, and price/performance across the top model companies. This is the stuff of great engineering and should be celebrated," Sacks wrote in his post. "It's just not the stuff of apocalyptic pronouncements. Oppenheimer has left the building." One of the doomsday scenarios Sacks rejected in his post is the fear that AI will lead to massive job losses. The investor said that's yet to pan out since AI relies on a lot of human input for prompts and for verification. "This means that apocalyptic predictions of job loss are as overhyped as AGI itself," he said. "Instead, the truism that 'you're not going to lose your job to AI but to someone who uses AI better than you' is holding up well." Sacks isn't the only AGI naysayer. Google Brain's cofounder Andrew Ng said at a June Y Combinator talk that "AGI has been overhyped" and that "there'll be a lot of things that humans can do that AI cannot." Google CEO Sundar Pichai said in a Lex Fridman podcast that he likes to use the term AJI, or "artificial jagged intelligence," to describe the current phase of AI — one that is remarkably intelligent but can still make basic mistakes.
Yahoo
16 hours ago
- Yahoo
Uber Technologies, Inc. (UBER) 'Is Just A Steady Good Story,' Says Jim Cramer
We recently published . Uber Technologies, Inc. (NYSE:UBER) is one of the stocks Jim Cramer recently discussed. Uber Technologies, Inc. (NYSE:UBER) is a ride-sharing company whose shares have gained 42% year-to-date. The firm has benefited from the growth in ridesharing services, which include a partnership between it and Waymo. Uber Technologies, Inc. (NYSE:UBER)'s shares gained 3.9% after the firm's second-quarter earnings report saw its gross bookings of $46.8 billion beat analyst estimates of $46.4 billion. During the quarter, the firm's 180 million monthly active platform users also beat analyst estimates of 176.6 million. Here's what Cramer said about Uber Technologies, Inc. (NYSE:UBER) after the earnings: 'Look this is just a steady good story. Boy the stock was down five this morning. I think it was from people who didn't understand the [inaudible] but this could be just throws off cash like no tomorrow. I thought that was really interesting because remember when they used to lose cash like no tomorrow?' Photo by Paul Hanaoka on Unsplash Cramer wagered a guess at Uber Technologies, Inc. (NYSE:UBER)'s future share price in his earlier remarks. Here is what he said: 'Okay, stock's up, stock's up 45%. I got so many, I got a lot of stocks that are down. Those are the ones that gotta wake up. I think Uber's going to $200. I just say you go buy more here. That's the only solution that I see.' While we acknowledge the potential of UBER as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
