The stock jumped 20.2% in midday trading, with affiliate Oro Mobility set to manage Uber robotaxi vehicles first in California's San Francisco Bay Area.
Hertz will also supply Oro's fleet on Uber's ride-hailing platform in Los Angeles, Atlanta and parts of New Jersey, helping meet demand and expanding its mobility-services role.
The gain put Hertz on course for its biggest one-day rise since November; rival Avis rose 6.3%, while both stocks remain volatile, heavily shorted and linked to meme-stock trading.
Is Hertz's 20% stock surge driven by a brilliant Uber deal or just another speculative meme-fueled frenzy?
As Hertz bets on robotaxis, can its service model achieve profitability faster than the autonomous vehicles it supports?