Here's a way to get investors excited about your autonomous vehicle plans: have one of the world's largest ride-hailing companies agree to write you a check for over a billion dollars. That's the deal Rivian Automotive (RIVN) just landed with Uber Technologies (UBER), sending its shares higher in premarket trading on Thursday.
The news provided a bright spot in a mixed-to-lower market session, and it's easy to see why. Uber isn't just buying a few cars; it's making a long-term, milestone-based commitment to fund Rivian's robotaxi ambitions. The ride-hailing giant plans to invest up to $1.25 billion in Rivian through 2031. The key word there is "up to"—the full investment is contingent on Rivian achieving specific, undisclosed autonomous driving milestones. It's a classic venture-style bet: we'll fund your journey, but you have to prove you can actually build the technology.
The scale of this deal is meaningful for Rivian. The company reported full-year 2025 revenue of $5.387 billion, which was up 8% from $4.970 billion in 2024. A potential $1.25 billion infusion is a serious chunk of change relative to that revenue base. It also represents strategic backing as Rivian manages a long-term debt load of $4.44 billion (as of December 2025). This isn't just a purchase order; it's a capital partner stepping in to help fund the autonomy push.
The partnership kicks off with an initial $300 million investment from Uber. The goal? To deploy "thousands" of Rivian's upcoming R2 robotaxis across 25 cities by the end of 2031. The companies plan to start service in San Francisco and Miami in 2028. If things go well, the collaboration could expand significantly, with Uber having the option to purchase up to 40,000 additional autonomous vehicles by 2030. For Rivian, this is a fast track to getting its Level 4 autonomous systems on the road at scale, with a built-in customer.
The announcement gave Rivian's stock an 8.56% boost in premarket trading, pushing it to $16.86. That move stood out against a broader market that was showing losses, with the Consumer Discretionary sector down 0.35% on Wednesday. Sometimes a company-specific story is just that powerful.
Checking Rivian's Technical Dashboard
So where does Rivian stand from a chart perspective? The stock is currently trading 0.1% below its 20-day simple moving average and 8.5% below its 100-day SMA, which hints at some short-term weakness. Over the past 12 months, shares are up 36.71%, but they're positioned closer to their 52-week lows than their highs.
The Relative Strength Index (RSI) sits at 48.61, which is neutral territory—no immediate signs of being overbought or oversold. Meanwhile, the MACD indicator shows a value of -0.0573, with the signal line at -0.1131. Because the MACD is above the signal line, this suggests a bullish crossover. Put it together, and you have mixed momentum signals: a neutral RSI but a bullish MACD setup.
- Key Resistance: $18.00
- Key Support: $14.00
Rivian is currently underperforming the broader Consumer Discretionary sector, which is ranked 7 out of 11 sectors and has declined 4.71% over the past month. It's been a tough environment for the group. The company's vehicle lineup includes a luxury truck, a full-size SUV, and a delivery van, with plans to start selling a midsize SUV in 2026. The autonomous driving software it's developing is now central to this new Uber partnership.
What Are the Analysts Saying?
The average analyst rating on Rivian stock is a Hold, with an average price target of $17.95. But there's been some recent movement in the analyst community:
- TD Cowen: Upgraded to Buy and raised its price target to $20.00 (March 10)
- Stifel: Maintained a Buy rating and raised its target to $20.00 (February 17)
- DA Davidson: Downgraded to Underperform and lowered its target to $14.00 (February 17)
So you have a split picture: some see enough potential to be bullish, while others are more cautious. The Uber deal is the kind of news that could shift that conversation.
Rivian's ETF Footprint
For investors who prefer getting exposure through funds, Rivian is a notable holding in several ETFs. Because it carries significant weight in these funds, large inflows or outflows for the ETFs can force automatic buying or selling of Rivian shares. Here are the key ones:
In short, Uber is making a big, staged bet on Rivian's ability to deliver a working robotaxi. For Rivian, it's not just money—it's a strategic partnership that provides capital, a deployment plan, and a major vote of confidence in its autonomous future. The market's initial reaction suggests investors think that's a pretty good deal.
