New York, Jan 28, 2026, 21:18 EST — The market has closed.
- Uber shares slipped 1.8%, closing Wednesday at $79.78.
- A Dutch court ruled that Uber drivers can be classified as self-employed, reigniting the debate over worker status on a case-by-case basis.
- Funding from Uber for Waabi, along with a target of deploying at least 25,000 robotaxis on Uber’s platform, has renewed attention on autonomy ahead of the Feb. 4 earnings report.
Shares of Uber Technologies (UBER) fell 1.8% on Wednesday, ending at $79.78. The drop outpaced the mostly flat broader market as investors absorbed new regulatory updates and autonomous vehicle news ahead of earnings.
Why it matters now: Uber continues to rely on drivers classified as independent contractors, even as it positions itself to sell rides increasingly in driverless vehicles.
The blend of legal threats and lasting disruption has investors on edge as Uber gears up to report numbers this week, shifting focus away from roadmaps.
On Tuesday, a Dutch court reversed a 2021 decision that had labeled all Uber drivers as employees, ruling instead that each driver can be considered an independent entrepreneur individually. Labour union FNV expressed disappointment and signaled it might take further steps, possibly appealing the verdict. 1
Canadian self-driving startup Waabi announced it has landed up to $1 billion in funding. This includes a $250 million milestone-based pledge from Uber connected to a robotaxi deal. “It’s obvious that the physical AI moment is here,” said Waabi founder and CEO Raquel Urtasun in an interview with Axios. 2
Waabi aims to roll out a minimum of 25,000 robotaxis—driverless taxis using its software—on Uber’s platform, though it hasn’t revealed a timeline, specific markets, or vehicle models. In an interview with The Verge, Urtasun called the partnership “the next level of scale to the robotaxi market.” 3
Competition is heating up. Waymo, Alphabet’s self-driving division, plans to roll out a fully driverless ride-hailing service in London by Q4 2026, according to a Waymo policy executive at a recent briefing. Reuters also reported that Uber-backed startup Wayve aims to launch in London this year. Meanwhile, Tesla forecasts millions of robotaxis on the roads by the end of 2026. 4
The macro environment offered little support. The S&P 500 ended nearly flat after the Federal Reserve kept rates unchanged, with markets largely unresponsive. “Whether you were bullish or bearish going into the press conference you walked away feeling about the same,” said Michael James, an equity sales trader at Rosenblatt Securities. 5
For Uber, court decisions on worker status are crucial since labeling drivers as employees would boost expenses and require operational shifts. Robotaxi partnerships, on the other hand, pose a different challenge: they might reduce dependence on human drivers over time but introduce new stakeholders who’ll expect a share of every fare.
Uber set its Q4 and full-year 2025 earnings call for Feb. 4, ahead of the market open in New York. Investors will be focused on gross bookings—total dollar value across rides, deliveries, and freight—and any details on revenue sharing with robotaxi partners. 6
Risks remain on both fronts. The Dutch ruling opens the door to further legal challenges and doesn’t resolve Uber’s liabilities elsewhere, where regulators and lawmakers have imposed stricter rules on gig work. Waabi’s agreement, on the other hand, comes with undisclosed milestones and lacks a clear rollout timeline, while robotaxi launches frequently face regulatory hurdles.
Feb. 4 is the next major date, as Uber releases its earnings and fields questions from analysts. Clarity on the launch locations for those initial Waabi robotaxis—or updates on driver regulations in Europe—could heavily influence the stock’s direction in the days after.
