Uber Technologies (Uber Technologies) has become a major shareholder of Lucid Group, becoming one of the company's largest investors outside the Saudi Public Investment Fund (SPIF). The SEC filing reveals that Uber has crossed the 10% ownership threshold after investing $500 million into the struggling EV maker as part of their expanding robotaxi partnership. The company now holds 37.7 million shares of Class A common stock, an 11.5% ownership stake. The investment was part of a broader $1.05 billion capital raise that Lucid announced on April 14, which included Uber's $200 million, a $550 million commitment from Ayar Third Investment Company (an affiliate of the Saudi PIF), and a $300 million registered public offering of 36 million shares priced at $8.112 per share. Despite securing $1 billion in capital, Lucid's shares prices have dropped from $9.96 on April 20 to $6.9.50.