Lyft

Waymo is partnering with Lyft to launch autonomous vehicles in Nashville, marking their first commercial agreement and sending Lyft’s stock up 10%. Riders will initially access Waymo vehicles through the Waymo One app, eventually integrating into Lyft’s platform. Lyft will manage fleet operations. Waymo, already operating in several cities and surpassing 10 million paid trips, plans further expansion. This move intensifies competition in the autonomous vehicle market, where Waymo faces challenges domestically from companies like Tesla and internationally from Baidu.

On September 3, 2025, Lyft announced a private offering of $450 million in Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $50 million. The notes, convertible at $23.52 per share, won’t pay regular interest and can be redeemed by Lyft after September 20, 2028, under certain conditions. Lyft will use proceeds for capped call transactions (cap price ~$33.60) and to repurchase ~$95.7M of Class A common stock. Remaining funds are for general corporate purposes including potential acquisitions, though no specific agreements are in place.

Baidu’s Apollo Go and Lyft are partnering to launch driverless taxi services in Europe, starting in Germany and the UK by 2026. The plan involves deploying thousands of Apollo Go’s autonomous vehicles, leveraging Lyft’s operational expertise. This collaboration follows a similar alliance with Uber and aims to expand Apollo Go’s global reach, building on its existing fleet of over 1,000 autonomous vehicles operating in 15 cities. The goal is to provide safer, greener, and more efficient transportation options to European riders.