Mobility & delivery · Ride-hail platform (multi-cloud)
Uber
Uber is a global platform spanning ride-hailing (Mobility), food delivery (Delivery) and freight. Revenue is the commission it takes from consumer and merchant bookings; 2024 total revenue was $43.98 billion and Gross Bookings $162.77 billion. In 2023 it moved off its own data centers onto multi-cloud via seven-year deals with Google Cloud and Oracle, and in 2026 it expanded AWS. Autonomous partnerships such as Waymo are both a cost and a future option. It runs on the consumer, gig-economy and interest-rate cycles, with AI entering through matching and autonomous driving.
UBER Updated Sep 12, 2026 5 AI consumers· 5 recurring
Per the valuechain.wiki graph, Uber is directly linked to 7 companies (6 supply, 1 revenue relationships) and reaches 82 companies within two hops; the links are backed by 12 dated sources, 4 of them primary filings (as of 2026-09-12).
Annual return · 2026-09-04'21-17.8%'22-41%'23+149%'24-2%'25+35.5%YTD-7.3%
Money in ▸라이드 소비자·드라이버 (모빌리티 커미션)●Amount $26.1B딜리버리 소비자·가맹점·배달원 (딜리버리 커미션·광고)●Amount $14.6B화물 화주 (프레이트 중개)●Amount $4.9BYum! Brands◐
UberFY2025 gross bookings $193B, adjusted EBITDA $8.7B
▸ Money outAmazon (AWS)●드라이버·배달원 인센티브 (긱 노동, 비공개)●Oracle●Alphabet (Google Cloud)●오로라 이노베이션●NVIDIA◐기아 (PBV)◐
Financials & Segments
- Total revenue · FY2025 gross bookings $193B, adjusted EBITDA $8.7B (+35%), free cash flow $9.8B (+42%); Q4 revenue $14.4B (+20%)
- Customer concentration · Revenue ties to consumer bookings (Gross Bookings, a GMV analog), so it runs on the consumer, gig-economy and rate cycles. Infrastructure depends on Google Cloud, Oracle and AWS multi-cloud, with autonomous partnerships as a future option.
- Segments · Mobility · Delivery · Freight
Revenue from
- 라이드 소비자·드라이버 (모빌리티 커미션) High confidence· Amount $26.1B · FY2024 · Mobility revenue
Mobility (ride-hailing) is the largest segment, with 2024 revenue of $26.1B and Gross Bookings of $87.2B, tied directly to consumer travel demand.Mentions EN consensus (via MarketBeat) Published Jun 1, 2026: Uber analyst Buy, consensus target ~$104 (2026)Mentions KO Investing.com Korea Published Aug 6, 2025: Uber grows Q2 2025 revenue 18% on platform integrationConfirms EN Uber Q4/FY2024 Press Release Published Feb 5, 2025: Uber Announces Results for Fourth Quarter and Full Year 2024 - 딜리버리 소비자·가맹점·배달원 (딜리버리 커미션·광고) High confidence· Amount $14.6B · FY2024 · Delivery revenue
Delivery (Uber Eats) posted 2024 revenue of $14.6B and Gross Bookings of $73.1B, earning merchant commissions and fast-growing advertising.Confirms EN Uber Q4/FY2024 Press Release Published Feb 5, 2025: Uber Announces Results for Fourth Quarter and Full Year 2024 - 화물 화주 (프레이트 중개) High confidence· Amount $4.9B · FY2024 · Freight revenue
Freight (freight brokerage) posted 2024 revenue of $4.9B and Gross Bookings of $4.7B, small and stalled amid a freight-rate downturn.Confirms EN Uber Q4/FY2024 Press Release Published Feb 5, 2025: Uber Announces Results for Fourth Quarter and Full Year 2024 - Yum! Brands Medium confidence
Uber provides Yum! Brands with a third-party ordering and delivery channel through Uber Eats and charges restaurants per-order fees, but the amount attributable to Uber was not disclosed.Confirms EN Uber Investor Relations Published Aug 6, 2020: Uber Announces Results for Second Quarter 2020
Pays to
- Amazon (AWS) High confidence
In April 2026 Uber expanded its AWS contract, moving ride-sharing infrastructure to AWS, increasing use of Amazon's Graviton (ARM CPU) and trialing the Trainium3 AI chip, a third multi-cloud leg and a link to Amazon's in-house silicon.Confirms EN TechCrunch Published Apr 7, 2026: Uber is the latest to be won over by Amazon's AI chips - 드라이버·배달원 인센티브 (긱 노동, 비공개) High confidence
The gap between Uber's Gross Bookings ($162.77B) and revenue ($43.98B) is largely payments and incentives to drivers and couriers. Gig-labor cost is the biggest cost axis, and incentives to keep supply drive profitability.Confirms EN Uber Q4/FY2024 Press Release Published Feb 5, 2025: Uber Announces Results for Fourth Quarter and Full Year 2024 - Oracle High confidence
In 2023 Uber also signed a seven-year cloud deal with Oracle, moving workloads onto Oracle Cloud Infrastructure (OCI), one leg of its multi-cloud alongside Google Cloud.Mentions EN TechCrunch Published Apr 7, 2026: Uber is the latest to be won over by Amazon's AI chips - Alphabet (Google Cloud) High confidence
In 2023 Uber moved off its own data centers (then 95% of its hardware) onto Alphabet's Google Cloud under a seven-year deal. Google Cloud is a core cloud cost for Uber and a link into the AI infrastructure chain.Mentions EN TechCrunch Published Apr 7, 2026: Uber is the latest to be won over by Amazon's AI chips - 오로라 이노베이션 High confidence
Uber Freight uses Aurora's driverless trucking (commercial since April 2025) with network integration. - NVIDIA Medium confidence
Uber is building its autonomous (robotaxi) network on NVIDIA, adopting the full-stack NVIDIA DRIVE AV (L4) software and the DRIVE AGX Hyperion platform, scaling to as many as 100,000 vehicles from 2027.Confirms EN Uber Investor Relations Published Oct 28, 2025: Uber to Deploy One of the World's Largest Networks of Autonomous Vehicles, Powered by NVIDIA AI Architecture - 기아 (PBV) Medium confidence
Ride-hailing PBV (PV5) sourcing collaboration (MoU).
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 |
|---|---|---|---|---|---|---|---|
| Yum! Brands | lead1 | +30.1 | -6 | +3.9 | +4.7 | +14.9 | +0.6 |
| Uber | node | -17.8 | -41 | +149 | -2 | +35.5 | -7.3 |
| Aurora Innovation | benef1 | · | -89.3 | +261.2 | +44.2 | -39 | +65.1 |
| NVIDIA | benef1 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.7 |
| Amazon | benef1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Kia | benef1 | +3.1 | -13.8 | +54 | +3.7 | +60.1 | -13.5 |
| SanDisk | benef2 | · | · | · | · | · | +633 |
| Micron Technology | benef2 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +256.4 |
| Seagate Technology | benef2 | +87.5 | -51.4 | +69.1 | +4.1 | +225.3 | +209.1 |
| Nan Ya PCB | benef2 | +110.6 | -46.7 | -0.5 | -38.3 | +188.2 | +172.1 |
| Nebius Group | benef2 | · | · | · | · | +202.2 | +170.5 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Kioxia | benef2 | · | · | · | · | +1082.1 | +155 |
| Ibiden | benef2 | +30.4 | -19.6 | +51.6 | -38.6 | +261 | +149.3 |
| Lumentum | benef2 | +11.6 | -50.7 | +0.5 | +60.1 | +339.1 | +139.1 |
| Unimicron | benef2 | +133.5 | -30.2 | +35.2 | -19.7 | +175.7 | +138.8 |
| ASE Technology | benef2 | +38.3 | -12.8 | +60.9 | +10.1 | +65.6 | +135.3 |
| Murata Manufacturing | benef2 | -14 | -11.7 | +24.7 | -16.5 | +29.9 | +131.5 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +120.2 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +86.6 |
| SK hynix | benef2 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +81.6 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| Keysight Technologies | benef2 | +56.3 | -17.2 | -7 | +1 | +26.5 | +61 |
| Samsung Electronics | benef2 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +59.7 |
| Wistron | benef2 | +7.9 | +9.7 | +272.7 | -1.6 | +22.7 | +57.3 |
| Coherent | benef2 | -10 | -48.6 | +24 | +117.6 | +94.8 | +52.7 |
| Delta Electronics | benef2 | -3.4 | +10.4 | -0.3 | +59.2 | +183.8 | +50.4 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| GE Vernova | benef2 | · | · | · | · | +99 | +44.4 |
| Pegatron | benef2 | -5.9 | +0.6 | +35.3 | +21.2 | -23.8 | +43 |
| Caterpillar | benef2 | +16 | +18.6 | +25.9 | +24.7 | +60.3 | +42.9 |
| TSMC | benef2 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +41.9 |
| FedEx | benef2 | +0.7 | -31.6 | +49.1 | +13.5 | +5.1 | +39.6 |
| onsemi | benef2 | +107.5 | -8.2 | +33.9 | -24.5 | -14.1 | +37.4 |
| Ciena | benef2 | +45.6 | -33.8 | -11.7 | +88.4 | +175.8 | +37.3 |
| Jabil | benef2 | +66.4 | -2.5 | +87.4 | +13.3 | +58.7 | +36.3 |
| Alchip Technologies | benef2 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +36.1 |
| Monolithic Power | benef2 | +35.5 | -27.8 | +79.8 | -5.6 | +54.5 | +35.5 |
| Globalstar | benef2 | +241.2 | +14.7 | +45.9 | +6.7 | +96.6 | +34.9 |
| Analog Devices | benef2 | +21 | -4.9 | +23.4 | +8.8 | +29.8 | +34.8 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +30.1 |
| Eoptolink | benef2 | -10.1 | -27.7 | +136.6 | +197 | +368.8 | +29.1 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +28.5 |
| InnoLight | benef2 | -30.7 | -18.3 | +253.7 | +12 | +468.1 | +25.6 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Amphenol | benef2 | +34.4 | -12.5 | +30.8 | +40.7 | +95.3 | +22.7 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +20.7 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +19.6 |
| Credo Technology | benef2 | · | · | +46.3 | +245.2 | +114.1 | +18.5 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| Entergy | benef2 | +17.1 | +3.6 | -6.1 | +56 | +25.3 | +18.2 |
| Norfolk Southern | benef2 | +27.3 | -15.6 | -1.6 | +1.6 | +25.6 | +15.6 |
| Paccar | benef2 | +5.6 | +17 | +55 | +10.8 | +8 | +14.8 |
| Colgate-Palmolive Company | benef2 | +2.1 | -5.4 | +3.8 | +16.6 | -11 | +14.4 |
| Cummins | benef2 | -1.7 | +14.1 | +1.7 | +48.9 | +49.4 | +11 |
| United Parcel Service, Inc. | benef2 | +30 | -16.2 | -6 | -15.9 | -15.9 | +8 |
| BlackRock | benef2 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | +6 |
| Celestica | benef2 | +37.9 | +1.3 | +159.8 | +215.2 | +220.3 | +5.7 |
| Luxshare Precision | benef2 | -11.9 | -30.2 | -21.2 | +58.8 | +29.3 | +5.6 |
| Procter & Gamble | benef2 | +20.5 | -5 | -0.9 | +17.3 | -12.3 | +4.5 |
| Amorepacific | benef2 | -30.1 | -5.7 | -18.4 | +9.9 | +8.2 | +4.1 |
| Hyundai Steel Company | benef2 | +2.7 | -9.3 | -2 | -28.7 | +38.8 | +2.3 |
| Exelon | benef2 | +41.5 | +8.3 | -14 | +9.2 | +20 | +1.9 |
| Hyundai Mobis | benef2 | -25.8 | -9.3 | +2.1 | +27.7 | +74.5 | -4.6 |
| King Yuan Electronics (KYEC) | benef2 | +26.7 | -7.7 | +132.4 | +38.6 | +171 | -6.7 |
| Vistra | benef2 | +19.6 | +5.1 | +70.7 | +261.5 | +17.7 | -7.2 |
| TE Connectivity | benef2 | +35.1 | -27.7 | +24.6 | +3.5 | +61.1 | -7.3 |
| Recursion Pharmaceuticals | benef2 | · | -55 | +27.9 | -31.4 | -39.5 | -11.2 |
| IonQ | benef2 | · | -79.3 | +259.1 | +237.1 | +7.4 | -11.9 |
| Abbott Laboratories | benef2 | +30.5 | -20.7 | +2.3 | +4.8 | +12.9 | -11.9 |
| Talen Energy | benef2 | · | · | · | +214.8 | +86.1 | -15.4 |
| Hesai Group | benef2 | · | · | · | +55.1 | +62.1 | -15.7 |
| Quantum Computing Inc | benef2 | -75.8 | -55.7 | -39.5 | +1712.7 | -38 | -21.9 |
| Hyundai Motor Company | benef2 | -16.7 | -4.7 | +16.2 | +12.3 | +158.8 | -22.2 |
| BYD Electronics | benef2 | -56.1 | +16 | -0.4 | +60.6 | -19.4 | -24.1 |
| Autodesk, Inc. | benef2 | -7.9 | -33.5 | +30.3 | +21.4 | +0.1 | -26.4 |
| D-Wave Quantum | benef2 | · | -85.3 | -38.9 | +854.5 | +211.3 | -36.6 |
| Nike | benef2 | +18.7 | -29 | -6 | -29.1 | -13.8 | -38.1 |
YTD as of 2026-09-04 · source: Yahoo Finance
Uber operates across NYSE, Mobility & delivery, Ride-hail platform (multi-cloud). It is -7.3% in 2026. The supply side (avg +16.9%) leads the stock (-7.3%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is Aurora Innovation (+65.1%) and the furthest behind is Oracle (-17.8%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It runs on the consumer, gig-economy and interest-rate cycles, with AI entering through matching and autonomous driving.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 4 · Hold 0 · Sell 0 · Avg. target $106 · Price $75.76 (09-04) · Upside +40%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Goldman Sachs | Buy | $100 | Jun 29, 2026 | Report ↗ |
| BTIG Research · Jake Fuller | Buy | $100 | Jun 26, 2026 | Report ↗ |
| Tigress Financial · Ivan Feinseth | Buy | $115 | Jun 12, 2026 | Report ↗ |
| DA Davidson · Tom White | Buy | $107 | May 26, 2026 | Report ↗ |
Set a $100 target on continued growth and margin improvement.
Analyses covering this node
- Consumption does not run on one clock: staples, discretionary, luxury diverge Jul 5, 2026
- AI money stays inside the chain: consumption and capital run on other clocks Jul 5, 2026