Alphabet to invest $5 billion in self-driving car unit Waymo

Alphabet to invest  billion in self-driving car unit Waymo


A Waymo rider-only robotaxi is seen during a test ride in San Francisco on Dec. 9, 2022.

Paresh Dave | Reuters

Alphabet is again investing in its self-driving car unit Waymo — this time with $5 billion.

“This new round of funding will enable Waymo to continue to build the world’s leading autonomous driving company,” Alphabet’s outgoing finance chief Ruth Porat said Tuesday on the company’s second-quarter earnings call, adding Waymo is an “important example” of Alphabet’s long-standing investments.

Porat announced the “multiyear” investment on the call and said more information would be available in the company’s quarterly Securities and Exchange Commission filing, expected on Wednesday. 

Alphabet’s “Other Bets” unit, which includes Waymo, delivered $365 million in quarterly revenue, up from $285 million a year ago. But the unit’s losses widened to $1.13 billion from $813 million in the year-earlier period.

CEO Sundar Pichai said on the earnings call that Waymo provides 50,000 weekly paid trips, primarily in San Francisco and Phoenix. It has completed 2 million trips to date. In June, Waymo removed the waitlist and opened Waymo rides to all San Francisco users.

The unit raised $2.25 billion in its first external funding round in 2020. The company raised another $2.5 billion in 2021 in a round that included funding from Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management & Research Company and more.

Alphabet’s increased investment in Waymo comes after General Motors’ autonomous vehicle unit Cruise said it would indefinitely delay the production of the Origin, a self-driving shuttle designed for use in cities. Tesla on Tuesday delayed plans to unveil its CyberCab, a dedicated robotaxi, from August to Oct. 10.

“Alphabet has committed up to $5B to Waymo,” Waymo CEO Tekedra Mawakana said on X. “We are grateful for their immense vote of confidence in our team and recognizing the amazing progress we’ve made with our technology, product, and commercialization efforts.”

Don’t miss these insights from CNBC PRO



Source

Google has eliminated 35% of managers overseeing small teams in past year, exec says
Technology

Google has eliminated 35% of managers overseeing small teams in past year, exec says

Alphabet CEO Sundar Pichai during the Google I/O developers conference in Mountain View, California, on May 10, 2023. David Paul Morris | Bloomberg | Getty Images Google has eliminated more than one-third of its managers overseeing small teams, an executive told employees last week, as the company continues its focus on efficiencies across the organization. […]

Read More
Nvidia reports second-quarter earnings after the bell
Technology

Nvidia reports second-quarter earnings after the bell

Nvidia CEO Jensen Huang attends the “Winning the AI Race” Summit in Washington D.C., U.S., July 23, 2025. Kent Nishimura | Reuters Nvidia reports fiscal second-quarter earnings on Wednesday after the bell. Here’s how Nvidia is expected to do versus LSEG consensus estimates: Earnings per share: $1.01, adjusted Revenue: $46.02 billion That would represent 53% […]

Read More
Gusto agrees to buy retirement plan provider Guideline
Technology

Gusto agrees to buy retirement plan provider Guideline

Gusto CEO Josh Reeves and Guideline CEO Kevin Busque talk at Gusto’s San Francisco headquarters. Elliott Morin | Gusto Gusto, a startup with payroll and human resources software, said Wednesday that it has agreed to acquire Guideline, a startup specializing in corporate retirement plans. Terms of the deal weren’t disclosed. Founded in 2011 and based […]

Read More