Uber just bought more of Delivery Hero

Uber’s not exactly playing small ball

Uber reportedly bought another 13.6 million shares of Delivery Hero from Prosus, which works out to roughly 4.5% of the German delivery company’s issued capital. Add that to Uber’s existing position and you get a stake of about 7% — which is basically Uber saying, “Yes, we’d like a bigger seat at this table, thanks.”

Why investors should care

Delivery Hero runs food delivery and quick commerce across about 65 countries, so this isn’t just a random portfolio tweak. It’s a strategic flex in a category Uber already knows well, and it suggests management still sees value in delivery even as the company pours money into its robotaxi ambitions.

The bigger Uber picture

This move lands right as Uber is also leaning hard into autonomous vehicles, with plans tied to nearly $10 billion in robotaxi-related spending. That includes equity investments and cash to scale fleets, plus partnerships with names like Lucid, Pony AI, WeRide, and Baidu.

The catch: the bill keeps growing

There’s a twist, of course. Internal reports say Uber’s AI-related costs are climbing too, with the company reportedly revisiting its approach after spending on coding tools ballooned faster than expected. So while Uber is stacking bets across delivery, AI, and robotaxis, investors are left asking the usual question: growth story, or very expensive hobby?

Big picture: Uber’s trying to own the road, the curb, and maybe the kitchen sink too. The market seems to like the ambition — but it’ll want proof that all these bets can eventually pay for themselves.