Uber stock dropped 4.3% on Friday, with losses picking up speed in the final hour of trading after the Financial Times reported that Waymo is exploring an exit from their partnership.
The two companies have been operating together since 2023, with Waymo vehicles currently available on Uber’s app in Austin and Atlanta.
The FT report, citing people familiar with the matter, says Waymo has held internal talks about terminating its agreements with Uber. Reuters could not independently verify the report, and neither company commented.
WAYMO EXPLORES OPTIONS TO EXIT PARTNERSHIP WITH $UBER: FT
Waymo has held internal talks about ending its robotaxi deals with Uber as the companies clash over service quality, safety and robotaxi regulation.
Waymo vehicles in Austin and Atlanta are currently available only… pic.twitter.com/pwyP4e44ZB
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The friction between the two has been building for some time. Waymo has raised concerns about vehicle cleanliness and routing. Uber, on the other hand, has pushed back on what it describes as “unsustainable financial terms” and complained about Waymo vehicles going offline during bad weather.
One person familiar with the situation told the FT the two companies are “pursuing diverging objectives.” That’s a polite way of saying the alliance may have run its course.
The signs were already there. In late June, the two companies quietly ended their self-driving partnership in Phoenix, Arizona — a market where they had been operating together.
Waymo has since officially notified Uber that it plans to enter the Austin and Atlanta markets on its own starting January 2028, which is when their current contract allows for independent entry.
That’s not a sudden breakup — it’s a planned separation with a date on the calendar.
The tension goes beyond operations. The FT reports both companies are actively lobbying lawmakers for robotaxi legislation that favors their own business models — often at the expense of the other.
Uber has leaned heavily on third-party autonomous vehicle providers, including Waymo, to build out its robotaxi presence without owning the underlying technology.
If Waymo walks, Uber would need to lean on other AV partners or rethink that strategy entirely.
Alphabet stock (GOOGL) edged up 0.65% on Friday, while Uber bore the brunt of investor concern, closing at a 4.31% loss.
The two companies remain partners in Austin and Atlanta for now. January 2028 is the date to watch.
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