SoftBank and Uber declined to comment. The investment would reportedly be specifically in Uber's self-driving technology department, and comes as Uber is heading towards an initial public offering of stock. Lyft, by contrast, said in its prospectus that its 2018 revenue totaled $2.2 billion and a loss of $911 million, which according to Axios would be the largest loss ever for a company entering the public markets for the first time.
Lyft, a smaller firm which has ride-hailing and bike-renting in the United States and several Canadian cities, is seeking a valuation of $US20 billion to $US25 billion, up from its $US15 billion valuation as a private company.
For the record, Uber has been exploring a deal with outside investors for its self-driving business since 2018. Lyft filed its own prospectus on March 1 and is expected to debut in the public stock market later this month.
SoftBank is already a major investor in Uber after it acquired about 17.5 percent of the ride-hailing firm's stock past year at a significant discount. Lyft, meanwhile, is looking for a market valuation between $20 billion and $25 billion after being valued at $15 billion in its most recent private funding.
Israeli warplanes pound Gaza; four Palestinians injured
The IDF response comes after Prime Minister Benjamin Netanyahu concluded a security meeting at the IDF's Tel Aviv headquarters. The rocket barrage triggered air raid sirens throughout the city, Israel's densely populated commercial and cultural capital.
Uber Chief Executive Officer Dara Khosrowshahi will be tasked with convincing investors that he has successfully changed the company's culture and business practices after a series of embarrassing scandals over the last two years. But its autonomous unit, formed in 2014, loses between $100 million and $200 million each quarter.
It operates in more than 70 countries and includes ride-hailing, bike and scooter rentals, freight hauling, food delivery and a self-driving vehicle division.
The Japanese holding conglomerate's SoftBank Vision Fund has been known to support Silicon Valley ventures, with its latest being a $1 billion investment in Uber's self-driving subsidiary ahead of its upcoming IPO, The Wall Street Journal reported.
Those have included sexual harassment allegations, a massive data breach that was concealed from regulators, use of illicit software to evade authorities and allegations of bribery overseas.