Uber sells $476M stake in Aurora Innovation through block trade

Uber just cashed out a significant chunk of its Aurora Innovation position, moving tens of millions of shares in a single block trade worth roughly $476 million. The sale, executed through Uber’s subsidiary Neben Holdings, represents a meaningful step back from one of the ride-hailing giant’s most prominent bets on autonomous driving technology. The transaction involved approximately 67.5 million shares of Aurora’s Class A common stock at around $7.10 per share. After the sale, Uber still holds about 258.5 million Aurora shares, representing roughly 15.6% of the company’s outstanding Class A stock. A strategic trim, not an exit Uber’s relationship with Aurora dates back to late 2020, when it offloaded its Advanced Technologies Group (ATG), its own self-driving unit, to Aurora in a deal valued at around $4 billion. That transaction gave Uber a massive equity stake in the autonomous trucking startup and let it step away from the notoriously expensive and technically punishing business of building self-driving systems in-house. The block trade was formally reported through amended Schedule 13D and Form 4 filings. Uber hasn’t signaled any immediate plans regarding its remaining shares,...