格隆汇2月24日｜在研究公司Citrini Research发布报告、阐述人工智能(AI)可能对全球经济不同领域构成 潜在风险之后，美股多个板块包括配送、支付以及软件类股份周一大幅下挫，其中，KKR收跌8.89%， 黑石(Blackstone)收跌6.23%，美国运通收跌7.2%，DoorDash收跌6.6%。报告中提及的其他公司，包括 Uber、万事达卡(Mastercard)、Visa，股价跌幅介乎4.3%至5.8%。 在这场"思想实验"中，Citrini描绘多种可能结果，其中包括DoorDash和Uber Eats等外卖送餐应用程式的 主导地位，被所谓的"vibe-coded"(氛围编程)方案所取代。DoorDash共同创办人Andy Fang在社交媒体回 应表示，确实相信AI代理型商业将为行业带来颠覆性改变，行业的地平线正在发生变化，业界必须适 应。报告还描述另一个未来情景，即AI代理商透过消除Mastercard和Visa等支付公司收取的交易费用， 帮助用户节省金钱。Citrini Research的报引发市场剧烈反应，但有部分市场人士认为，当前的市场反应 或已高估AI风险。 Citrini Res ...

CitriniResearch日前发布报告，详细分析了人工智能（AI）可能给全球经济多个领域带来的潜在风险，导致送餐、 支付和软件类股票周一大幅下跌。 DoorDash.、AmericanExpress、KKR&Co Inc.和Blackstone股价周一盘中均下跌超过8%。 文章中被点名的其他公司，包括Uber、Mastercard、Visa、CapitalOne和Apoll CitriniResearch日前发布报告，详细分析了人工智能（AI）可能给全球经济多个领域带来的潜在风险，导致送餐、 支付和软件类股票周一大幅下跌。 DoorDash.、AmericanExpress、KKR&Co Inc.和Blackstone股价周一盘中均下跌超过8%。 文章中被点名的其他公司，包括Uber、Mastercard、Visa、CapitalOne和Apollo GlobalManagement Inc.，股价也至少下 跌3%。 这篇周日发布的报告在前言中写道： "本文的唯一目的，是对一个此前相对缺乏深入探讨的情景进行建模。 希望读完之后，你能为人工智能让经济变得越来越'奇怪'所带来的潜在尾部风险做好准备。 " Ci ...

Key Takeaways Both missed Q4 earnings estimates, but LYFT's overall price performance is better than Uber's. UBER's shares fell after an EPS miss, soft guidance and concerns over AV investments. LYFT trades at 0.76X forward sales, authorized a $1B buyback and expects gross bookings to grow 17-20% in Q1.Uber Technologies (UBER) , based in San Francisco, CA, has followed an assertive global expansion strategy while diversifying its business model. Although ride-sharing remains its primary operation, the comp ...

DoorDash delivered piping hot earnings this week, accompanied by a side of lukewarm expectations for the first quarter. The delivery giant’s revenue in the winter quarter climbed 38% from the same time last year for a total that’s flirting with $4 billion. The app notched about 903 million orders, a 32% jump, as coffee-table diners double-dashed breakfast burritos and ramen. Orders were boosted by DoorDash’s October acquisition of British delivery app Deliveroo — without the new app, DoorDash orders still ...

Core Insights - More than half of Pershing Square Capital Management's portfolio is now invested in high-profile artificial intelligence (AI) stocks, indicating a significant shift towards AI investments by the firm [1] - The deadline for institutional investors to file Form 13F with the SEC provides insights into the investment strategies of top money managers, including Bill Ackman of Pershing Square [2] Investment Focus - Bill Ackman has opened a $2 billion position in Meta Platforms, which represents about 10% of Pershing Square's invested assets, highlighting a strong belief in the long-term potential of AI stocks [5][12] - AI stocks make up over half of Ackman's portfolio, with significant investments in Uber Technologies (20%), Alphabet (19%), and Amazon (8.7%) [7] AI Market Potential - PwC analysts estimate that AI technology could create $15.7 trillion in global economic value by 2030, suggesting a vast opportunity for companies involved in AI [6] - Meta's integration of generative AI into its advertising platforms is expected to enhance click-through rates and improve ad pricing power, showcasing the tangible benefits of AI applications [13] Company Performance - Uber Technologies is Ackman's largest holding, with over 30 million shares purchased, and it relies heavily on AI for optimizing its ride-sharing services [8] - Alphabet has seen a 48% increase in Google Cloud sales during the fourth quarter, driven by the incorporation of AI tools [9] - Amazon Web Services, the leading cloud infrastructure platform, has reaccelerated sales growth through generative AI solutions, contributing significantly to Amazon's operating income [10] Meta Platforms' Valuation - Meta's current share price is viewed as undervalued, trading at 18.6 times forecast earnings per share in 2027, which is an 11% discount to its average forward price-to-earnings ratio over the last five years [17] - Meta's family of apps attracts an average of 3.58 billion daily users, providing strong ad pricing power and abundant operating cash flow [16]

Core Insights - Uber plans to significantly expand its European market presence this year, with its food delivery service Uber Eats set to enter seven new countries, including the Czech Republic, Greece, and Romania [1] - The company aims to enhance its business footprint in Europe by also entering Austria, Denmark, Finland, and Norway, expecting this expansion to generate approximately $1 billion in new total order value over the next three years [1] - Uber's global delivery business head, Susan Anderson, highlighted strong demand from both merchants and consumers, aiming to elevate industry standards and provide a more cost-effective service experience [3] - Recently, Uber has strengthened its position in the Turkish market by acquiring the food delivery business of Turkish instant delivery platform Getir through an agreement with the UAE sovereign investment fund Mubadala [3]

Core Insights - Uber is expanding its delivery business into seven new European markets, including Austria, Denmark, Norway, the Czech Republic, Greece, Romania, and Finland, aiming to generate an additional $1 billion in gross bookings over the next three years [2][3] Group 1: Market Expansion - The expansion is part of a strategy to challenge established competitors in these markets, where incumbents have become complacent [3] - Uber will compete with Finland-based Wolt, which was acquired by DoorDash in 2022, amidst a wave of consolidation in the European food delivery sector [7] Group 2: Strategic Acquisitions - Uber plans to acquire rival Getir's food delivery operation in Turkey, which is expected to enhance its Trendyol Go business by consolidating operations and leveraging global technology [8] Group 3: Technological Advancements - Uber Eats is set to launch an AI-powered feature called Cart Assistant, allowing users to create grocery lists using text or images, enhancing user experience and operational efficiency [9][10] - The integration of generative AI across Uber's platform aims to optimize operations and provide personalized consumer experiences [10]

Core Insights - Uber Eats has launched a new AI feature called "Cart Assistant" aimed at simplifying the grocery shopping experience for users [1][3] - The feature allows customers to enter a shopping list or upload an image, which the AI will use to populate their grocery cart automatically [2] - Cart Assistant personalizes the shopping experience by prioritizing familiar items based on previous orders, enhancing user convenience [3] Feature Details - Users can initiate the Cart Assistant by selecting a grocery store within the Uber Eats app and tapping the designated icon [1] - The AI can process various input formats, including handwritten lists and recipe screenshots, to add items to the cart [2] - Customers have the option to customize their cart by changing brands or adding additional products [2] Competitive Landscape - The introduction of Cart Assistant positions Uber Eats to better compete with other grocery and food delivery services that are also integrating AI technologies [3] - Competitors like Instacart and DoorDash have already implemented AI tools to enhance user experience, such as personalized shopping recommendations and meal planning features [5][6] - Uber Eats is actively investing in AI across various functionalities, including tools for merchants to improve menu descriptions and customer engagement [8]

Core Insights - Nearly half of Pershing Square Capital Management's $14.6 billion in invested assets is concentrated in two trillion-dollar stocks and a leading company in a rapidly growing industry, particularly in artificial intelligence (AI) [1][5]. Investment Focus - The investment trend in AI has gained significant traction on Wall Street over the past three years, with major investors recognizing the multitrillion-dollar opportunities it presents [2]. - Bill Ackman, the head of Pershing Square Capital Management, is known for his activist investment strategy, focusing on undervalued assets and corporate changes to unlock shareholder value [4]. Key Holdings - Approximately 48% of Pershing Square's invested assets are linked to three prominent AI stocks, with Alphabet being the largest holding at 19% of the portfolio [5][6]. - Alphabet (GOOGL) is a major player in AI, leveraging generative AI solutions and large language models within its Google Cloud platform, which has seen a 47% year-over-year sales growth [8][10]. - Amazon (AMZN) constitutes 8.7% of the invested assets, with its Amazon Web Services (AWS) being the primary income generator, experiencing a 24% constant-currency sales growth [12][13]. - Uber Technologies (UBER) represents 20% of the invested assets, with its ride-sharing platform heavily reliant on AI for operations, and the global ride-sharing market projected to grow significantly [17][18][20]. Financial Strength - Alphabet ended 2025 with $126.8 billion in cash and equivalents, allowing for substantial investments in AI and other growth initiatives [10]. - Amazon also reported around $123 billion in cash and equivalents, providing ample capital for high-growth investments [16].

Core Insights - Uber Technologies is acquiring Getir's delivery portfolio in Türkiye, which includes food, grocery, retail, and water delivery, from the UAE sovereign wealth fund Mubadala [1][11] - The acquisition will be executed in phases, starting with Getir's food delivery business, which generated over $1 billion in gross bookings in 2025, reflecting a year-over-year increase of more than 50% on a constant currency basis, for a cash price of $335 million [2][11] - Uber will also invest $100 million for a 15% stake in Getir's grocery, retail, and water delivery business, with the remainder of the portfolio expected to close in the coming years, contingent on certain performance conditions [2][11] Acquisition Details - The food delivery business acquisition is anticipated to close in the second half of the current year [3] - Uber previously acquired a controlling stake in Trendyol Go, another delivery service in Türkiye, for $700 million [3] - The integration of Getir and Trendyol Go platforms aims to enhance consumer options and delivery opportunities for couriers, thereby increasing demand for restaurants and retailers in Türkiye [4] Consumer Impact - Post-acquisition, Getir consumers will continue to access delivery services, including restaurants from Trendyol Go, through the Getir Super app, while Trendyol Go customers will have access to Getir's grocery offerings [5] - Uber's commitment to investing in Türkiye is driven by the country's robust digital economy and dynamic customer base [5] Strategic Partnerships - Uber has previously partnered with Best Buy for on-demand delivery, allowing consumers to order electronics from over 800 stores via Uber Eats [6] - Collaborations with Dollar General and Dollar Tree have expanded Uber's retail delivery capabilities, adding over 14,000 and nearly 9,000 stores, respectively, to the Uber Eats platform [7][8] Financial Performance - Uber's shares have declined in double digits over the past six months, underperforming the Zacks Internet-Services industry during the same period [9] - The company trades at a 12-month forward price-to-sales ratio of 2.57X, which is considered inexpensive compared to its industry [12] - The Zacks Consensus Estimate for full-year 2026 and 2027 has seen a decline in the past 30 days [13]