Latest news with #Alphabet-owned
Yahoo
2 days ago
- Automotive
- Yahoo
Uber strikes game-changing deal to unleash 'Tesla killer': 'Next-generation premium global robotaxi program'
Rideshare giant Uber and potential "Tesla killer" Lucid have upended the still-developing yet highly competitive robotaxi industry with the surprise announcement of an autonomous-vehicle partnership, Yahoo Finance reported. Under the landscape-altering deal, Uber said it aimed to deploy 20,000 Lucid electric SUVs as self-driving taxis over the next six years. The vehicles will feature autonomous-vehicle technology from the company Nuro, the report stated. The companies said they planned to create a "next-generation premium global robotaxi program," available exclusively via Uber's platform, according to Yahoo. Lucid, one of the only other major fully American EV-only carmakers with Tesla and Rivian, saw its stock soar by about 45% at one point before settling at 36.24% over the previous day. The announced collaboration presented a direct challenge to the robotaxi efforts of Alphabet-owned Waymo and EV-maker Tesla, both of which already are accepting rides from paying customers in certain locales. Waymo, by far the market leader under the same corporate umbrella as Google, has been operating a fleet of 1,500 robotaxis across multiple U.S. cities, offering more than 250,000 rides per week, according to a May announcement. Tesla only recently launched its first robotaxi pilot program in limited parts of Austin, Texas. The program has yielded mixed results. People understandably have mixed feelings about robotaxis and the many implications of the autonomous revolution. A study by the Center for Global Policy Solutions estimated that autonomous vehicles could take away as many as four million jobs, not only among taxi and rideshare drivers but also long-haul truck drivers, last-mile delivery drivers, and more. With these impacts in mind, one benefit of the announced deal among Uber, Lucid, and Nuro is that it continues the trend of all robotaxis to date being electric vehicles. Unlike vehicles running on internal combustion engines, EVs don't pump harmful particulate matter or planet-warming pollution into the air, and a recent study revealed that they also contribute less brake dust pollution, which analysts said more than offsets their higher rate of tire wear from the weight of batteries. Would you be more likely to use a rideshare service that offers EV rides? Absolutely Only if it wasn't more expensive Only if the wait times weren't longer Not interested Click your choice to see results and speak your mind. This makes the air overall healthier to breathe, especially in cities, while helping to curb rising global temperatures from heat-retaining carbon in the atmosphere. This is not to say that EVs are environmentally neutral. When EVs charge off the grid, they are only as clean as the electricity they use. Whether that electricity was generated from renewables like wind or solar or from burning a dirty fuel like coal makes a big difference. Additionally, meeting the world's growing demand for EVs requires extracting millions of tons of minerals from the earth every year, a heavy environmental toll that should not be overlooked. However, when compared to the billions of tons of fossil fuels that oil, gas, and coal companies pull from the ground every year, and the costs those fuels place on the environment and public health, EVs come out as the clear winners. An MIT study determined that, even when taking into account the manufacturing process and even if charged off the average U.S. electrical grid, an EV still was responsible for about 40% less pollution per mile over its lifetime than the average internal combustion vehicle. And, the cleaner the electricity used to charge an EV, the more that gap widened, the study showed. The best way to make sure that your EV is charged on 100% renewable energy is to install solar panels on your home. Going solar can drop your electric bill to practically zero, charging your EV for less than it would cost at a public charger or off the grid. EnergySage offers free tools that make it quick and easy to compare quotes from vetted local installers and to identify tax credits and other incentives available in your area. Statistics show that EnergySage saves customers an average of $10,000, but, with federal solar tax credits in the U.S. ending Dec. 31, 2025, the time to act is now. Similarly, EV tax credits end soon too, on Sept. 30, with credits up to $7,500 for a new EV or $4,000 for a used one. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Business Insider
4 days ago
- Business
- Business Insider
‘Don't Miss the Rise,' Mira Murati's AI Startup Hits $12B Valuation Backed by Tech Giants
Thinking Machines Lab, the AI startup founded by former OpenAI CTO Mira Murati, has secured $2 billion in funding, raising its valuation to $12 billion. The round was led by Andreessen Horowitz, a venture capital firm, with backing from major players like Nvidia (NVDA), AMD (AMD), Cisco (CSCO), Accel, ServiceNow (NOW), and Jane Street. 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. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. This capital injection marks one of the largest seed rounds in Silicon Valley history, reflecting the strong investor appetite for new AI research labs. Murati Hints at Open-Source AI and Research Focus Founded less than a year ago, Thinking Machines has yet to release a product, but Murati hinted at the company's first product in a recent post on the X social media platform. She stated that the startup plans to reveal its work, which will include a 'significant open source offering,' in the 'next couple of months.' Murati also indicated that the product will support researchers and startups focused on building custom AI models. Nearly two-thirds of the team consists of former OpenAI talent, such as key researchers John Schulman, Barret Zoph, and Luke Metz. Murati's ability to attract top-tier talent and capital has drawn comparisons to other leading AI labs like Anthropic and Alphabet-owned (GOOGL) Google DeepMind. Even with its massive $12 billion valuation, Thinking Machines Lab faces tough competition from AI giants like Meta (META), Google DeepMind, Anthropic, and OpenAI, who are pouring billions into advanced research. Which AI Stock Is Best for Investing? Using , we see that six companies have garnered Wall Street's Strong Buy consensus rating, with analysts seeing the largest upside potential in Micron (MU) stock.
Engadget
5 days ago
- Automotive
- Engadget
Uber and Baidu are teaming up to deploy thousands of autonomous vehicles globally
Uber and China-based Baidu are teaming up to deploy more autonomous vehicles throughout the world. The companies plan on bringing thousands of Baidu's Apollo Go vehicles to various regions that will be accessible via the Uber platform, including mainland China and other "global markets outside of the US." The first joint deployments are expected in Asia and the Middle East later this year. Once launched, Uber riders could be presented with the option to have the trip fulfilled by an Apollo Go vehicle. The companies say this collaboration should increase the supply of affordable rideshare options in new areas by "bringing Baidu's advanced autonomous vehicles onto Uber's extensive network." This follows reporting from May in which Baidu announced it was bringing its autonomous vehicles to Europe. Baidu already operates a fleet of over 1,000 fully driverless vehicles in 15 cities, including Dubai and Abu Dhabi. The company first launched the platform in several Chinese cities back in 2022, including Beijing, Guangzhou and Shanghai. Don't hold your breath waiting for a US rollout. A recent report by The Wall Street Journal suggests America isn't currently in the cards, as Chinese companies tend to face increased scrutiny over on this side of the pond. However, there are plenty of budding autonomous vehicle companies chasing the US market. The Alphabet-owned Waymo has been steadily launching in new cities and most of these efforts include a partnership with Uber. The company Avride, which used to be the self-driving unit for the Russian conglomerate Yandex, has been increasing its presence in cities like Dallas and Jersey City. Amazon's Zoox is also still out there, despite a serious software issue that impacted the braking system. If you buy something through a link in this article, we may earn commission.
Business Insider
6 days ago
- Automotive
- Business Insider
Don't believe the hype around robotaxis, HSBC analysts say
Tesla and Waymo are racing to build their own robotaxi empires, but not everyone is convinced the hype is justified. A new report from analysts at HSBC found that the potential market for driverless taxis was "widely overestimated" and warned that it could take years before robotaxi fleets began returning a profit. In a Monday note, HSBC analysts suggested that the idea robotaxis would be more profitable than their human-driven counterparts was based on a misconception. Although robotaxi operators do not have to worry about the cost of paying a driver's wage, they said that driverless taxis face a slew of "overlooked" extra costs that would likely cut into profits. According to HSBC's analysts, those include parking, charging, and cleaning fees, as well as teams of remote operators to intervene when things go wrong. "When we factor in these costs, we believe robotaxis won't be break-even on a cash flow basis until 7-8 years after launch," the analysts wrote, adding that projections for robotaxi revenues vary from the "ambitious to the unrealistic." Industry figures have been making bold claims about driverless cars for years. Tesla CEO Elon Musk has said that robotaxis will add trillions of dollars to the company's market cap, and in May told CNBC that Tesla would have one million self-driving cars on the road by next year — a promise he also made back in 2019. Amid the hype, driverless taxis are gradually becoming a reality. Tesla finally launched a pilot of its robotaxi service in Austin last month, and Alphabet-owned Waymo's autonomous Jaguar I-Paces have provided over 5 million paid rides over the past three years. However, the division of Alphabet that includes Waymo continues to lose billions of dollars a year, and analysts estimate that Waymo's vehicles, which are outfitted with expensive sensors and lidar arrays, cost around $150,000 each. The economics of Tesla's robotaxis are unclear, but Musk has suggested that the company's decision to use cameras and AI rather than lidar means they are cheaper to run than Waymo's. Despite this, HSBC's analysts said the automaker faces numerous challenges in scaling its autonomous ride-hailing operation, ranging from regulatory barriers in China and Europe to upgrading the roughly 5 million Teslas on the road with hardware that is too old to run the company's robotaxi software. They estimated that Tesla's robotaxi fleet would hit 20,000 to 25,000 cars by 2030, rising to 75,000 by 2035, and would not turn a profit until 2033.
Business Insider
11-07-2025
- Business
- Business Insider
EU's New AI Framework Sparks Investor Worry for U.S. Tech Giants
In a blow to U.S. tech firms Meta Platforms (META) and Alphabet-owned Google (GOOGL) as well as European group ASML (ASML), the EU has continued the acceleration of its new AI Act. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The EU today released a code of practice to help thousands of businesses in the 27-nation trading bloc using general purpose artificial intelligence technology to comply with its new AI rule book. These include chatbots like OpenAI's ChatGPT. Safety and Security The code focuses on three areas: transparency requirements for providers of AI models that are looking to integrate them into their products; copyright protections; and safety and security of the most advanced AI systems. The EU code is voluntary and complements the EU's AI Act, a comprehensive set of regulations that was approved last year and is taking effect in phases. The AI Act bans cognitive behavioral manipulation and social scoring. It also defines a set of 'high-risk' uses, such as biometrics and facial recognition, or AI used in domains like education and employment. App developers will have to register their systems and meet risk and quality management obligations to gain EU access. Violations could draw fines of up to 35 million euros ($41 million), or 7% of a company's global revenue. Unworkable Regulations Chatbots are considered lower risk and will therefore have fewer obligations enforced. The full rules will come into force in mid-2026. Some Big Tech companies, such as Meta have claimed the regulations are unworkable. Recently, over 40 European companies, including Airbus (EADSF) and French AI startup Mistral, urged the bloc in an open letter to postpone the regulations for two years. They say more time is needed to simplify 'unclear, overlapping and increasingly complex EU regulations' that put the continent's competitiveness in the global AI race at risk. 'Today's publication of the final version of the Code of Practice for general-purpose AI marks an important step in making the most advanced AI models available in Europe not only innovative but also safe and transparent,' the commission's executive vice president for tech sovereignty, security and democracy, Henna Virkkunen, said.
