AUR

Aurora Innovation

research_scan theme='autonomous-mobility'; value_chain_position='Layer 4 pure-play driverless-trucking OEM + Layer 3.5 fleet-capex financing exposure'; 10 driverless routes as of Feb 11, 2026. April 30 disclosure of 'leading carrier commits to scale Aurora fleet to 500 trucks' is strongest procurement signal in theme. Prior scan flagged ~$700M FY2025 cash burn; C-23 makes 2027+ capital-markets access materially costlier than industry consensus prices. If 500-truck ramp is equipment-financed, it becomes first AV-collateral instance of C-08 transmission channel. Direct supports_avoid exposure on C-23.