Uber joined the S&P 100 after building the business

S&P Dow Jones Indices said Uber would replace Charter Communications in the S&P 100 on September 22, 2025. That’s a marker of Uber’s size and liquidity. It is not a product review.

I wrote as though index funds buying shares would give Uber cheaper capital and speed up robotaxi deployments. I can’t draw that line from an index change. Uber had already joined the S&P 500 and built a large cash-generating business. Its ability to fund Lucid–Nuro vehicles depends on cash, deal terms, and whether riders use the service, not the S&P 100 label.

The index change follows the scale Uber has already built. Its autonomous-vehicle commitments spend some of the cash that business generates. I’m more interested in how those purchases perform than in which index holds the shares.