Autonomous trucking (Aurora Driver)
Aurora Innovation
An autonomous-trucking firm. It began driverless commercial operations in Q2 2025, earning its first revenue ($1M), and expanded to nighttime runs with Werner and Hirschbach. It pairs NVIDIA DRIVE Thor/DriveOS with Continental to ready mass-production hardware for 2027 ($1.3B cash, $201M loss). An AV demand node buying lidar and compute to sell driverless transport.
AUR Updated Jul 12, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Aurora Innovation is directly linked to 4 companies (3 supply, 1 revenue relationships) and reaches 39 companies within two hops; the links are backed by 5 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · First revenue $1M in Q2 2025
- Customer concentration · NVIDIA, Continental; Werner, Hirschbach.
- Segments · Driverless trucking · Aurora Driver licensing
Revenue from
- Logistics · trucking (Werner · Hirschbach) High confidence· Amount $3M · FY2025(상용 첫해) · 10-K income statement
Driverless commercial operations launched April 2025 with Hirschbach and Uber Freight; pilots with FedEx, Schneider, Werner and Volvo AS continue. FY2025 revenue $3M in the first commercial year (cost of revenue $17M).Confirms EN Transport Topics Published Aug 1, 2025: Aurora earns first driverless revenue in Q2 2025Confirms EN Aurora Published Jan 15, 2025: Aurora, Continental and NVIDIA driverless-truck partnership - 우버 프레이트 High confidence
Driverless commercial launch customer (April 2025); Uber Freight's digital freight network is integrated into Aurora's autonomous trucking subscription. - Aurora Driver licensing · pilots Medium confidence
Licenses and pilots the 'Aurora Driver' autonomy stack to OEMs and partners — a platform revenue axis distinct from the transport service; the pace of pilots converting to commercial subscriptions is the question.
Pays to
- Continental · hardware mass production (undisclosed) High confidence
Exclusive Hardware-as-a-Service partner: Aurora pays AUMOVIO (spun out of Continental) per mile for next-generation Aurora Driver hardware, under a strategic agreement running to March 2031; third-gen hardware from 2027. - NVIDIA High confidence
Integrates NVIDIA DRIVE Thor and DriveOS as Aurora Driver's autonomy compute — depending on NVIDIA's platform for perception and planning; compute performance, power and cost are key variables in the 2027 production hardware's competitiveness.Confirms EN Transport Topics Published Aug 1, 2025: Aurora earns first driverless revenue in Q2 2025Confirms EN Aurora Published Jan 15, 2025: Aurora, Continental and NVIDIA driverless-truck partnership - Hesai Group Medium confidence
Sources lidar — the eyes of driverless perception — from Hesai, a dependency on the core sensing component; lidar cost and performance drive both the safety margin and per-unit cost of driverless transport. - PACCAR (자율주행 트럭 플랫폼) Medium confidence
Aurora sources and co-develops PACCAR Peterbilt 579 and Kenworth T680 platforms for driverless integration (2021 strategic partnership).
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Uber | lead1 | -17.8 | -41 | +149 | -2 | +35.5 | -8.8 |
| Aurora Innovation | node | · | -89.3 | +261.2 | +44.2 | -39 | +66.1 |
| Paccar | benef1 | +5.6 | +17 | +55 | +10.8 | +8 | +14.4 |
| NVIDIA | benef1 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +13.3 |
| Hesai Group | benef1 | · | · | · | +55.1 | +62.1 | -27.9 |
| Kioxia | benef2 | · | · | · | · | +1082.1 | +260.5 |
| Micron Technology | benef2 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +243.3 |
| Murata Manufacturing | benef2 | -14 | -11.7 | +24.7 | -16.5 | +29.9 | +217.4 |
| Nan Ya PCB | benef2 | +110.6 | -46.7 | -0.5 | -38.3 | +188.2 | +213.4 |
| ASE Technology | benef2 | +38.3 | -12.8 | +60.9 | +10.1 | +65.6 | +167.6 |
| Nebius Group | benef2 | · | · | · | · | +202.2 | +162.4 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +148.2 |
| Ibiden | benef2 | +30.4 | -19.6 | +51.6 | -38.6 | +261 | +147.1 |
| SK hynix | benef2 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +140.3 |
| Unimicron | benef2 | +133.5 | -30.2 | +35.2 | -19.7 | +175.7 | +131.6 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +118.8 |
| Lumentum | benef2 | +11.6 | -50.7 | +0.5 | +60.1 | +339.1 | +117.6 |
| Samsung Electronics | benef2 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +77.9 |
| onsemi | benef2 | +107.5 | -8.2 | +33.9 | -24.5 | -14.1 | +77.2 |
| Coherent | benef2 | -10 | -48.6 | +24 | +117.6 | +94.8 | +75.8 |
| Eoptolink | benef2 | -10.1 | -27.7 | +136.6 | +197 | +368.8 | +74.9 |
| InnoLight | benef2 | -30.7 | -18.3 | +253.7 | +12 | +468.1 | +68.8 |
| Keysight Technologies | benef2 | +56.3 | -17.2 | -7 | +1 | +26.5 | +58.5 |
| Delta Electronics | benef2 | -3.4 | +10.4 | -0.3 | +59.2 | +183.8 | +54.9 |
| Monolithic Power | benef2 | +35.5 | -27.8 | +79.8 | -5.6 | +54.5 | +49.8 |
| Analog Devices | benef2 | +21 | -4.9 | +23.4 | +8.8 | +29.8 | +46.7 |
| TSMC | benef2 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +43.6 |
| Cummins | benef2 | -1.7 | +14.1 | +1.7 | +48.9 | +49.4 | +33.3 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +27.2 |
| Pegatron | benef2 | -5.9 | +0.6 | +35.3 | +21.2 | -23.8 | +24 |
| Luxshare Precision | benef2 | -11.9 | -30.2 | -21.2 | +58.8 | +29.3 | +20.6 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +18.2 |
| Amphenol | benef2 | +34.9 | -12 | +31.5 | +41.3 | +96.1 | +18.1 |
| Wistron | benef2 | +7.9 | +9.7 | +272.7 | -1.6 | +22.7 | +14.8 |
| King Yuan Electronics (KYEC) | benef2 | +26.7 | -7.7 | +132.4 | +38.6 | +171 | +4.2 |
| BlackRock | benef2 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | -2.1 |
| TE Connectivity | benef2 | +35.1 | -27.7 | +24.6 | +3.5 | +61.1 | -11.3 |
| Recursion Pharmaceuticals | benef2 | · | -55 | +27.9 | -31.4 | -39.5 | -13 |
| BYD Electronics | benef2 | -56.1 | +16 | -0.4 | +60.6 | -19.4 | -34.4 |
YTD as of 2026-07-10 · source: Yahoo Finance
The thesis is whether Aurora can survive cash burn at the very start of driverless trucking turning into a revenue curve. It began driverless commercial runs in Q2 2025 for a first $1M of revenue, but with $17M cost of revenue it is still pre-scale, and it is widening lanes with Werner, Hirschbach and Uber Freight, including night driving. It is an integrator that buys lidar (Hesai), compute (NVIDIA Thor), truck platforms (PACCAR) and hardware (Aumovio HaaS) to sell driverless transport, with 2027 third-gen hardware production the inflection that lowers per-unit cost. With $1.3B cash against a $201M annual loss, the pace of fleet expansion and hardware-cost declines decides the path to profit.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target $14 · Price $6.38 (07-10) · Upside +119%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Morgan Stanley · Ravi Shanker | Overweight | $14 | May 7, 2026 | Report ↗ |
| Cantor Fitzgerald · Andres Sheppard | Overweight | $12 | Sep 15, 2025 | Report ↗ |
| Canaccord Genuity · George Gianarikas | Buy | $15 | Sep 2, 2025 | Report ↗ |
Buy consensus (average target around $11) on the start of commercial driverless freight in Texas with Volvo/DSV and expanding freight deals — Morgan Stanley raised its target to $14 in May 2026, keeping Overweight.