Alphabet’s extra $5 billion investment in Waymo comes after steady growth in revenue and citywide expansions.
Alphabet CFO Ruth Porat said the Google parent company will invest $5 billion more into its self-driving car unit Waymo."This new round of funding will enable Waymo to continue to build the world's leading autonomous driving company," Alphabet's outgoing CFO Ruth Porat said Tuesday on thePorat announced the"multi-year" investment on the call and said more information would be available in the company's quarterly SEC filing, expected on Wednesday.
Alphabet's"Other Bets" unit, which includes its self-driving car company Waymo, delivered $365 million in revenue during the second quarter, up from $285 million a year ago. But, the unit also lost $1.13 bilion, up from the $813 million it lost in the year-ago quarter. CEO Sundar Pichai said on the earnings call that Waymo provides 50,000 weekly paid trips, primarily in San Francisco, California and Phoenix, Arizona. It has completed 2 million trips to date. In June, Waymo removed the waitlist andin a round that included funding from Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management & Research Company and more.the production of the Origin, a self-driving shuttle designed for use in cities.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Waymo opens robotaxi service to all San Francisco usersAlphabet-owned Waymo is opening up access to San Francisco robo taxis
Read more »
Waymo opens robotaxi service to all San Francisco usersAlphabet-owned Waymo is opening up access to San Francisco robo taxis
Read more »
Moment cop pulls over driverless Waymo car that 'FREAKED OUT'Moment officer pulls over driverless Waymo car
Read more »
No wait: Hailing robotaxi in SF now as easy as Uber, LyftSan Franciscans no longer have to stand by on a waitlist to download Waymo’s app
Read more »
Waymo’s robotaxis are now open to anyone in San FranciscoWill Shanklin has been writing about gadgets, tech and their impact on humanity since 2011. Before joining Engadget, he spent five years creating and leading the mobile technology section for New Atlas. His work has also appeared on SlashGear, TechRadar, Digital Trends, AppleInsider, Android Central, HuffPost and others.
Read more »
Waymo announces anyone in SF can now hail driverless car as it retires waitlistIf you've been waiting to ride a Waymo driverless vehicle, now's your chance as the company has ended its waitlist and opened the service up to everyone in San Francisco.
Read more »