SERV Stock Slips — Uber Fully Exits Stake In Delivery Robot Maker, While Adding RIVN, LCID Shares

• In the prior quarter, ended March 31, Uber had reported owning over two million shares of Serve Robotics common stock, valued at $17.5 million at the time.
• As per Uber’s filing, Grab Holdings Limited remains its largest equity holding by a wide margin, with nearly 536 million Class A ordinary shares valued at over $2 billion.
• Uber also established a new position in Rivian Automotive Inc., acquiring 19.6 million shares of common stock valued at $339.3 million as of June 30.

Ride-hailing giant Uber Technologies Inc. fully divested its equity holdings in Serve Robotics in the second quarter following differences on the deployment of its delivery robot fleet, according to the former’s filing with the U.S. Securities and Exchange Commission.

Shares of SERV closed 0.4% lower on Tuesday, while UBER edged up 1%.

Complete Divestiture Confirmed

Uber’s quarterly report of institutional equity holdings, covering the period ended June 30, lists seven reportable positions with an aggregate value of around $4.51 billion. Serve Robotics does not appear among them.

In the prior quarter, ended March 31, Uber had reported owning over two million shares of Serve Robotics common stock, valued at $17.5 million at the time. The absence of any position in the latest filing confirms the complete sale of that stake between April 1 and June 30.

Why Did Uber Pull Back?

Serve Robotics and Uber have maintained a multiyear commercial partnership for autonomous sidewalk deliveries dating back to 2021, when the companies entered a Master Framework Agreement under which Serve deploys its robots to fulfill orders on the Uber Eats platform, with project plans authorizing the rollout of up to 2,000 robots across multiple U.S. markets. The current term of that agreement runs through February 24, 2027, and provides for automatic one-year renewals unless terminated.

On Serve’s second-quarter 2026 earnings call held earlier this month, CEO Ali Kashani stated that after 17 consecutive quarters of growth in delivery volume through Uber, volumes declined for the first time in the second quarter amid differences over fleet coordination, merchant integration, and the overall operating model for scaling the shared autonomous fleet, leading the company to conclude that “we don’t currently expect that it would make sense to renew our agreement when it expires in early 2027” unless the operating model improves meaningfully, while emphasizing that Serve remains engaged with Uber and open to finding a path to continue working together.

Uber’s Other Holdings

As per Uber’s filing, Grab Holdings Limited (GRAB) remains its largest equity holding by a wide margin, with nearly 536 million Class A ordinary shares valued at over $2 billion. The share count was unchanged from the previous quarter. Holdings in self-driving technology company Aurora Innovation Inc. (AUR) were reduced, with Uber reporting 258.5 million shares of Class A common stock valued at $1.76 billion, down from nearly 326 million shares three months earlier.

Uber established a new position in EV maker Rivian Automotive Inc. (RIVN), acquiring 19.6 million shares of common stock valued at $339.3 million as of June 30. The company also significantly expanded its stake in Rivian's peer Lucid Group Inc. (LCID), increasing holdings from 13.7 million shares in the prior quarter to 37.8 million shares.

Other positions reported in the filing include 11.2 million sponsored American depositary shares of WeRide Inc. (WRD), 7.1 million shares of Joby Aviation Inc. (JOBY) common stock, and 135,042 shares of Marqeta Inc. (MQ) Class A common stock.

How Did Retail Traders React?

On Stocktwits, retail sentiment around SERV stock stayed within the ‘bullish’ territory over the past 24 hours, while message volume fell from ‘extremely high’ to ‘high’ levels.

Meanwhile, sentiment around UBER stayed within the ‘extremely bullish’ territory while retail chatter stayed at ‘high’ levels.

A Stocktwits user voiced optimism for Serve announcing a new partnership in the coming days.

A less optimistic user said Serve could be in trouble if Uber pulls out.

While SERV stock has fallen 53% year-to-date, UBER has lost 4%. 

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