Uber Expands Global Footprint with $200M Turkish Innovation Hub Ahead of Q3 Earnings

Uber Technologies (UBER) shares saw modest gains as the ride-hailing giant announced a $200 million investment to establish a new software and technology center in Istanbul. This marks Uber's fourth major innovation hub outside the U.S., joining existing facilities in Brazil, the Netherlands, and India.

The five-year investment will focus on advancing AI capabilities, particularly in ride-matching algorithms, dynamic pricing models, and mapping technologies. Backend infrastructure for Uber's growing delivery and logistics segments will also receive significant funding. The Istanbul hub plans to recruit top engineering talent, including data scientists and software developers, while building dedicated research laboratories.

This strategic MOVE underscores Uber's transformation from a pure-play ride-hailing service to a diversified mobility platform. The company recently bolstered its Turkish presence through the $700 million acquisition of Trendyol GO, a leading local meal and grocery delivery service.