The company’s economics are improving, as mobility leads profits, delivery is now a durable business and Uber One plus advertising are boosting margins and stability.The mobility platform says AV adoption will be uneven and slow, but believes its platform can scale AVs without hurting human-driven demand.The mobility landscape, as its name implies, is constantly moving.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, ...

Tesla, Inc. (NASDAQ:TSLA) is one of the stocks in focus as Jim Cramer shared his weekly game plan. Cramer highlighted that the upcoming quarter report will define the “new narrative” that Tesla is not “just a car company,” as he remarked: A bunch of the Mag Seven stocks have been underperforming, at least until today, when they roared. Still, Microsoft, Meta, and non-club company Tesla have turned into stocks that are very difficult to own except for select days… Next, repeat after me, Tesla’s a robot com ...

Core Insights - The central theme of the report is "The Great Acceleration," highlighting the rapid convergence of five major innovation platforms centered around artificial intelligence (AI) that are expected to drive significant global economic growth by the end of the decade [1][4]. Group 1: Economic Growth Projections - The report predicts that the global GDP growth rate could reach 7.3% by 2030, significantly higher than the International Monetary Fund's forecast of 3.1% [4]. - Capital investment in innovation assets is expected to increase from approximately $5 trillion in 2025 to around $28 trillion by 2030, with the market share of innovation assets rising from about 20% to 50% [9][14]. Group 2: Technological Convergence - ARK identifies a 35% increase in the "Convergence Network Strength" by 2025, indicating a significant acceleration in the inter-catalysis of different technologies [7]. - AI is described as a "Central Dynamo" that drives multiple technology curves simultaneously, leading to a shift from linear to highly coupled technological relationships [4][12]. Group 3: Investment in Data Centers - Investment in data center systems is projected to grow from approximately $500 billion in 2025 to about $1.4 trillion by 2030, with a compound annual growth rate of 30% [20][17]. - The demand for AI is driving this investment surge, with the cost of inference dropping over 99% in the past year, leading to exponential growth in AI usage [22]. Group 4: AI and Consumer Behavior - AI is reshaping consumer interaction with digital platforms, with AI chatbots achieving a 25% penetration rate among smartphone users within seven years, faster than the internet's adoption rate [23]. - The share of AI-related search traffic is expected to increase from 10% in 2025 to 65% by 2030, with a projected annual growth rate of 50% in AI-related search advertising spending [26]. Group 5: Robotics and Automation - The global robotics market is estimated to present a revenue opportunity of approximately $26 trillion, with significant potential in both manufacturing and household services [32]. - The report emphasizes the transformative potential of humanoid robots, which could convert significant amounts of unpaid household labor into measurable GDP contributions [34]. Group 6: Autonomous Vehicles - The market for autonomous taxis is projected to create about $34 trillion in enterprise value by 2030, with autonomous technology providers capturing approximately 98% of the EBIT [37]. - The cost of autonomous taxi services is expected to drop significantly, with projections suggesting a price of $0.25 per mile by 2035 [35]. Group 7: Multiomics and AI in Healthcare - The integration of multiomics with AI is expected to revolutionize biology, with the cost of whole genome sequencing potentially dropping to $10 by 2030 [41]. - AI-driven drug development could reduce time to market by 40%, from 13 years to 8 years, while significantly lowering overall drug costs [45]. Group 8: Space Economy - The use of reusable rockets is anticipated to propel the economy into the space age, with SpaceX leading the market and significantly reducing launch costs [50][52]. - The market opportunity for satellite connectivity is projected to exceed $160 billion annually by 2030, driven by cost reductions and performance improvements [55]. Group 9: Energy and Infrastructure - The report highlights the need for a substantial increase in capital investment in the energy sector, estimating a requirement of about $10 trillion by 2030 to meet global electricity demand [60]. - Distributed energy systems are becoming crucial for supporting the energy needs of AI data centers, with ongoing declines in energy intensity across major economies [57].

Core Insights - The CEO of Uber Technologies Inc., Dara Khosrowshahi, emphasized the importance of affordability and safety standards in the growth of autonomous vehicles [2][4] - Khosrowshahi predicts that it will take 10 to 20 years for autonomous vehicles to significantly impact the ride-hailing business, especially outside high-fare markets [3] - Despite current challenges, the future of autonomous vehicles appears promising, with positive stock performance following advancements in technology [7][8] Cost and Adoption Challenges - Khosrowshahi highlighted that the current cost of autonomous vehicles exceeds $100,000, which is a barrier to widespread adoption [2] - Many existing autonomous vehicles do not meet the necessary computing capacity for safety standards, limiting their deployment in the near term [2] Technological Developments - Uber is actively developing autonomous vehicle technology, with plans to launch a robotaxi service in Dallas by December 2025 [5] - The company renewed its partnership with TomTom in January 2026 to enhance routing and location services for its autonomous vehicles [6] Market Performance - Uber's stock has shown a 25.26% increase over the past year, reflecting a mixed performance in growth and momentum rankings [8]

Core Viewpoint - Uber Technologies Inc. is highlighted as a strong investment opportunity for 2026, with a Buy rating and a price target of $119 set by BofA Securities, emphasizing its strategic positioning in the autonomous vehicle market [1]. Group 1: Autonomous Vehicle Market Positioning - BofA Securities notes that Uber's partnership with Nvidia is crucial for accelerating the adoption of Level 4 autonomous technology, which is expected to lower entry barriers for manufacturers and benefit Uber's operations [2]. - Increased competition among autonomous vehicle manufacturers is anticipated to lead to a higher number of autonomous vehicles on Uber's network, reinforcing a bullish outlook on the stock [3]. Group 2: Analyst Ratings and Market Sentiment - Analysts from Bernstein SocGen have also expressed a positive outlook on Uber, maintaining an outperform rating with a price target of $115, reflecting confidence amid rising competition in the autonomous vehicle market [3]. Group 3: Company Overview - Uber Technologies Inc. operates a multi-sided platform that connects users with transportation, food delivery, and freight services, with its core segments being Mobility, Delivery, and Freight [4].

Summary of Key Points from the US Internet Conference Call Industry Overview - The focus is on the US Internet sector, particularly the dynamics surrounding major players like Amazon, Meta, Google, and others as they navigate through evolving market conditions and technological advancements in AI and automation. Core Themes and Insights Theme 1: AI Transition from Model Performance to Product Usage and Revenue Generation - The narrative is shifting from evaluating AI model performance to assessing product usage and financial returns, emphasizing the importance of user engagement metrics and monetization strategies [6][23][39] - Companies are expected to focus on user KPIs, with a particular emphasis on daily active users (DAU) and monthly active users (MAU) as indicators of engagement [8][27] - OpenAI and Google are leading in user engagement, with OpenAI having approximately 900 million weekly active users (WAU) and Google around 650 million MAU [28][29] Theme 2: AI's Real-World Applications - The physical application of AI, particularly in autonomous vehicles (AVs) and robotics, is anticipated to drive efficiency gains in 2026 [7][53] - Companies like Waymo and Tesla are expected to expand their AV fleets significantly, with Waymo planning to double its fleet size and enter more markets [54][55] - Amazon is leveraging robotics to enhance operational efficiencies, with over 1 million robots now in use, significantly improving logistics and supply chain processes [57] Theme 3: Market Dynamics of Growing Pies and Shrinking Slices - The competitive landscape is characterized by expanding total addressable markets (TAM) but shrinking market shares for incumbents as new entrants and technologies disrupt traditional business models [10][17] - Major players like Amazon and Google are encroaching on new markets, such as grocery and AVs, which could lead to increased competition and market share erosion for smaller platforms [11][15] Theme 4: Big Tech's Expanding Influence - Big Tech companies are leveraging their data and distribution advantages to enter new markets, often at the expense of smaller competitors [11][12] - The ability to outspend competitors on capital expenditures (CapEx) and product development is a significant advantage for these large firms [11][12] Investment Implications - Top investment picks include Amazon (AMZN), Meta (META), DoorDash (DASH), and Zillow (ZG), with a positive outlook on Uber (UBER), Pinterest (PINS), and Cart (CART) [4][14][19] - Amazon is expected to improve its position in AI and eCommerce, with anticipated revenue growth in AWS and retail margins benefiting from efficiency initiatives [15][19] - Meta is viewed as having high upside potential, although it faces risks related to its AI model performance and revenue growth [15][19] - Zillow's evolving revenue model and potential for mid-teens revenue growth are highlighted, despite recent stock declines [19] Financial Metrics and Projections - Key financial metrics for major companies include: - Alphabet (GOOGL): Adjusted EPS projected to grow from $8.00 in 2024 to $11.84 in 2026, with a target price of $305.00 [3] - Meta (META): Adjusted EPS expected to rise from $23.92 in 2024 to $31.05 in 2026, with a target price of $870.00 [3] - Amazon (AMZN): Adjusted EPS forecasted to increase from $5.52 in 2024 to $8.31 in 2026, with a target price of $300.00 [3] Additional Insights - The anticipated peak in capital intensity for major players in 2026 could lead to improved return on invested capital (ROIC) in subsequent years [46] - The integration of AI into existing platforms and the development of new commercial applications will be crucial for driving user engagement and revenue growth [34][39] - The competitive landscape will continue to evolve, with smaller players potentially benefiting from partnerships and innovative applications of AI [41][42] This summary encapsulates the key themes, insights, and financial projections discussed in the conference call, providing a comprehensive overview of the current state and future outlook of the US Internet sector.

Industry Overview - The auto industry is undergoing a transformation with electric vehicles (EVs) and autonomous vehicles (AVs) reshaping the future of mobility, driven by advances in battery technology and a growing charging network [1] - The adoption of EVs varies by region, with the U.S. facing temporary obstacles due to policy changes, while China leads the transition supported by competitive pricing and government backing [3] - Global EV sales are projected to reach nearly 90 million units by 2040, accounting for 27.5% of total sales in 2026, 43.2% by 2030, and over 83% by 2040 [4] Competitive Landscape - Tesla has historically led the EV market, but competition is intensifying with the emergence of Chinese automakers and new EV-only startups, providing consumers with more choices [2] - The autonomous vehicle market is valued at approximately $1.5 trillion in 2022 and is expected to exceed $13.6 trillion by 2030, growing at a compound annual growth rate of 32% from 2023 to 2030 [4] Key Companies - **Blue Bird Corporation (BLBD)**: A leading provider of low- and zero-emission school buses, with over 20,000 buses in operation. The company is expanding its services and is well-positioned to benefit from trends in clean transportation [8][10] - **WeRide Inc. (WRD)**: A leader in autonomous driving with a fleet of over 1,600 AVs, including robotaxis. The company is expanding its operations globally and commercializing various autonomous vehicle solutions [11][14] - **Workhorse Group Inc. (WKHS)**: Focused on electric commercial vehicles, the company has a strong sales pipeline and partnerships with major fleets. It aims to capture growth in the medium-duty truck market [15][17] - **Amazon (AMZN)**: Through its subsidiary Zoox, Amazon is entering the autonomous driving space with robotaxi services in Las Vegas and plans for expansion. Zoox's unique design positions it as a competitor in the robotaxi market [18][20]

Core Insights - Waymo, a unit of Alphabet, announced plans to enhance its first responder engagement and improve emergency response protocols [1] - The company will implement updates to enable its vehicles to navigate intersections more decisively [1] Group 1 - Waymo is focusing on expanding its collaboration with first responders to improve safety and efficiency during emergencies [1] - The updates to emergency response protocols aim to streamline interactions between Waymo's autonomous vehicles and emergency services [1] - Enhancements in intersection navigation are expected to increase the overall effectiveness of Waymo's autonomous driving technology [1]

December 21, 2025 11:35 PM GMT The Robot Almanac Vol. 6: Autonomous Vehicles Morgan Stanley Global Embodied AI Team December 2025 The content addressing private companies is being provided for informational purposes only and does not constitute a solicitation or imply future research coverage if the company goes public. Content is based on unaudited information. No investment recommendation is provided as there is limited public information available for private companies. Investors should conduct their own ...

Summary of Key Points from the Conference Call Industry and Company Overview - **Industry Focus**: The analysis covers various sectors impacted by the rise of Artificial Intelligence (AI), including technology, advertising, autonomous vehicles, and memory supply chains. - **Companies Mentioned**: - **Technology**: Intel (INTC), HP Inc. (HPQ), Qualcomm (QCOM), Adobe (ADBE), Docusign (DOCU), Pinterest (PINS), The Trade Desk (TTD), Uber (UBER), Lyft (LYFT) - **Memory Supply**: Samsung, SK Hynix, Micron Core Insights and Arguments 1. Memory Pricing and Impact on PC Manufacturers - DRAM contract prices are expected to surge by **25-30%** in Q4 2025, with NAND flash memory prices increasing by **10-15%**. This will lead to a **5.5%** increase in COGS and **300-440 basis points** of gross margin compression for PC manufacturers like HPQ, who cannot raise prices due to market competition [3][11][12]. - The memory market is dominated by three companies, controlling **95%** of DRAM and NAND supply, which gives them significant pricing power [11]. 2. Autonomous Vehicles Disruption - Full self-driving vehicles are becoming operational, with significant implications for rideshare companies like Uber and Lyft. The shift to autonomous fleets will disrupt traditional rideshare economics, favoring companies that own the fleet and data [4][43][44]. - Uber's strategy to deploy its own AV fleet poses risks to its partnerships and execution capabilities, while Tesla and Waymo are advancing rapidly in this space [47]. 3. Advertising Landscape Transformation - The emergence of agentic AI in advertising is reshaping the landscape, favoring platforms with rich first-party data and measurable conversions. Companies like Pinterest and The Trade Desk may struggle as advertisers shift budgets to ecosystems like Amazon and Meta that provide better ROI [5][55][63]. - Pinterest's revenue growth is projected to be **100 basis points** below consensus, reflecting competitive pressures from AI-driven ad tools [58]. 4. SaaS Challenges in an AI-Driven Market - SaaS companies like Adobe and Docusign face significant challenges as AI models become more prevalent. High-cost SaaS products may be replaced by lower-cost AI solutions, leading to margin compression [7][68][70]. - Adobe is struggling to adapt to the AI transition, with its digital media ARR decelerating and facing competition from free, collaborative design tools [70][71]. 5. Qualcomm's Exposure to Handset Market - Qualcomm is highly exposed to the handset market, where rising memory prices could lead to unit sales compression. The company may struggle to meet growth targets due to anticipated declines in handset shipments [36][38][40]. Additional Important Insights - **HP Inc.** is particularly vulnerable due to its high exposure to the price-sensitive PC market, where rising memory costs could lead to demand erosion [27][28]. - **Docusign** faces a structural challenge as e-signature becomes a feature embedded in broader workflows, reducing its standalone value [75][76]. - **The Trade Desk** risks becoming a price-taking intermediary as ad spend consolidates into closed ecosystems that own the entire advertising process [63][64]. Conclusion The analysis highlights significant risks and challenges across various sectors due to the rapid evolution of AI technologies. Companies that fail to adapt to these changes may face severe competitive pressures and margin compression.