SAN FRANCISCO: A group of investors including SoftBank Group are in talks to invest $1 billion or more into Uber’s self-driving car unit, The Wall Street Journal reported on Wednesday.
Word of a potential infusion of cash valuing the Uber autonomous vehicle division at from $5 billion to $10 billion comes as the ride-hailing startup steers toward a hotly-anticipated stock market debut.
Under terms being discussed, SoftBank’s Vision Fund and other investors, including a car maker, would take a minority stake in Uber’s self-driving vehicle unit, according to the Journal.
Led by Japan’s Masayoshi Son, the Vision Fund is heavily invested by Saudi Arabia.
The Journal described the “late-stage” talks as fluid, with the possibility a deal might not be reached.
Uber has been in a race with Google-owned Waymo and a host of other companies, including major automakers, to develop self-driving vehicles.
Waymo said this month that it would sell a key innovation to companies that don’t compete with its autonomous cars.
The California-based unit of Google parent Alphabet will offer its lidar sensors, which measure distance with pulses of laser light, to companies in robotics, security, agricultural technology and other sectors.
The move could offer a new revenue stream for Waymo as it invests in bringing “robo taxis” to market, broadening the availability of the 3D lidar sensors it has been developing since 2011.
Uber is aiming beyond car rides to becoming the “Amazon of transportation” in a future where people share, instead of own, vehicles.
If all goes to plan, commuters could ride an e-scooter to a transit station, take a train, then grab an e-bike, share a ride or take an e-scooter at the arriving station to complete a journey — all using an Uber app on a smartphone.
Uber’s platform moves cargo as well as people, with a “Freight” service that connects truckers with shippers in a way similar to how drivers connect with people seeking rides.
Uber is also seeing growing success with an “Eats” service that lets drivers make money delivering meals ordered from restaurants.
Investors could pump $1bn into Uber self-driving cars
Investors could pump $1bn into Uber self-driving cars
- SoftBank’s Vision Fund and other investors are weighing up a minority stake in Uber’s self-driving vehicle unit
- Uber has been in a race with Google-owned Waymo and a host of other companies to develop self-driving vehicles
Saudi Arabia found 8m ounces of gold in 2025
RIYADH: Saudi Arabia discovered 8 million ounces of gold during 2025, according to Saudi Gold Refinery Co.’s Board of Directors Chairman.
Suliman Al-Othaim told Al-Eqtisadiah on the sidelines of the fifth edition of the Future Minerals Forum held in Riyadh, that the company’s share of these discoveries reached 1.5 million ounces.
He explained that the company is continuing to update its refineries to process 36 tonnes of gold and issue hallmarks bearing the name of the Saudi Gold Refinery Co. for locally produced gold.
The company owns all production lines and mining services, including aerial and ground imaging, trenching, and well drilling. It aims to achieve 50 percent of local production by 2030, leveraging government support and provided services, according to Al-Othaim.
The year 2025 witnessed an unprecedented historic boom in gold prices, with the metal recording annual gains exceeding 64 percent.
This surge was driven by acute geopolitical tensions and a significant increase in demand from central banks and investment funds.
According to recorded data, the average price of a gold ounce in 2025 ranged between $3,400 and $3,500.
This figure reflects the upward journey that started from levels of $2,710 at the beginning of the year, reaching its historic peak in December when gold hit its all-time highest levels near $4,500 per ounce.
Al-Othaim pointed out that the company benefits from foreign expertise and is working on developing its mines and refineries to be among the leading companies in the mining sector globally.
He added that it will begin implementing a new strategy aimed at increasing production by expanding the scope of its work in the mining field and will seek new opportunities for investment in this sector.
