SoftBank, Toyota in talks to invest $1B in Uber’s self-driving unit: Report – Fox Business

Uber is reportedly about to get a big financial boost for its self-driving unit.

SoftBank Group and Toyota Motor are leading a group of investors in talks to invest $1 billion or more into the unit.

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That would give the unit a value of $5 billion to $10 billion, according to two people who told Reuters.

Uber’s self-driving program has cost a lot of money and has not generated revenue.

News of investment talks was first reported by The Wall Street Journal, which said a deal could be reached next month.

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It could also help underscore Uber’s value as the ride-hailing firm prepares for a stock market debut.

The ride-hailing company could go public as early as May or June.

Uber and SoftBank declined to comment to Reuters, while Toyota said it didn’t have anything to announce.

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