Uber Surges with $20B Buyback Amid Strong Q2 Performance

Uber's stock fell 2.9% despite strong earnings and a $20 billion buyback, mainly due to concerns over the significant investments required for autonomous vehicle technology and competition from robo-taxi services. The company reported better-than-expected revenue and forecasted higher gross bookings, with ongoing investments in partnerships like Lucid to develop autonomous vehicles, but these efforts have yet to impact Uber's market share significantly.