Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTRich DupreySun, August 2, 2026 at 4:54 PM GMT+2 4 min readQuick ReadThree in four Uber riders have never ordered groceries through the app, representing a massive untapped customer base within a $1 trillion addressable market.Uber's advertising business surpassed a $2 billion annual run rate, growing over 50% year-over-year, with margins far higher than its delivery operations.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Uber didn't make the cut. Grab the names FREE today.Artificial intelligence has become the lens through which investors view almost every technology company. Businesses are increasingly judged by whether they win or lose the AI race, even when other growth engines continue to accelerate underneath the surface. Uber Technologies (NYSE:UBER) has become one of the latest examples. Kiwis / iStock via Getty ImagesThe stock has recently swung on headlines surrounding autonomous vehicles and its partnership with Waymo, yet those headlines obscure a quieter story unfolding inside the company. For long-term investors, this overlooked business could prove far more valuable than the market currently appreciates.Much of the investment discussion surrounding Uber centers on robotaxis. That's understandable given the long-term implications autonomous driving could have for ride-sharing economics. But management has repeatedly pointed investors elsewhere.During Uber's Investor Day and subsequent earnings calls, executives described grocery and retail delivery as part of a roughly $1 trillion addressable opportunity for the company over time. The reason is straightforward: consumers already use Uber's platform for transportation and restaurant delivery. Grocery shopping is simply another high-frequency category that fits naturally into those existing habits.The opportunity is enormous. According to eMarketer, U.S. online grocery sales are expected to reach approximately $452 billion this year, while Brick Meets Click reported online grocery accounted for 19% of total U.S. grocery spending. That's less a temporary trend than a meaningful shift in how households shop.Uber is expanding to meet that demand. The company has continued adding national and regional grocery chains to its marketplace, giving customers more reasons to open the app for everyday purchases instead of occasional restaurant meals.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Uber didn't make the cut. Grab the names FREE today.24/7 Wall St. Beyond the autonomous hype, a massive high-margin business is quietly scaling. Uber isn't just driving you anymore—it's conquering the $1 trillion local commerce market. © 24/7 Wall St.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info