Overview

• Sands Capital said its original Uber thesis had played out, citing bookings growth of more than 150% since its February 2020 entry and expanding profitability in mobility and delivery.
• The firm pointed to heightened uncertainty around how autonomous vehicles could disrupt ride-hailing, even as its research views Uber as well positioned to aggregate future AV supply.
• Management said certain AI stocks now offer greater upside potential with less downside risk, driving the decision to reallocate capital.
• Uber remained popular with professional investors at the end of Q2 2025, with 152 hedge fund portfolios holding the stock, up from 145 in the prior quarter.
• Uber shares closed at $98.85 on September 15, 2025, up 3.70% over one month and 35.82% over 52 weeks, implying a market value of about $206.1 billion.