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 interesting change since Uber’s early years is that it can invest from a stronger financial position. That gives it more room to try partnerships, but it also makes excuses less persuasive. When a fleet rollout slips or a cost line rises, the answer has to be in the operating numbers. An index committee cannot tell us whether a car is available for a paid ride.