Uber Technologies Inc (NYSE:UBER) is investing more than $100 million to build fast-charging stations for autonomous vehicles across major U.S. markets, marking its most significant infrastructure bet yet in the robotaxi industry. The company's stock rose 2.9% Wednesday following the announcement that it will focus first on building high-capacity charging hubs in the San Francisco Bay Area, Los Angeles, and Dallas.

This infrastructure push comes as Uber seeks to defend its market position against Alphabet's Waymo, which has been rapidly expanding its autonomous fleet operations. Uber plans to manage ground operations for these fleets, arguing that owning charging infrastructure "improves efficiency, lowers costs and keeps vehicles on the road longer." The company is building full-service DC Fast Charging stations at autonomous depots where it already handles fleet operations including cleaning and inspections.

The investment represents Uber's strategy to prepare cities for an all-electric future while addressing a critical bottleneck in autonomous vehicle deployment. The company is also providing utilization guarantees to help charging networks install over 1,000 new chargers globally in cities including New York, London, and Paris. Despite the aggressive spending, Uber faces market headwinds with shares down 14% over the past month, though the company projects autonomous vehicles will operate on its network in at least 10 cities by the end of 2026.