Google’s Owner Alphabet Is Investing Another $5b Into Waymo

Alphabet will be spending an extra $5 billion on its self-driving company Waymo. The parent company of Google has committed to a new ‘multi-year investment’ which was announced by chief officer Ruth Porat during a second-quarter earnings call. “This new round of funding, which is consistent with recent annual investment levels, will enable Waymo to continue to build the world’s leading autonomous driving technology company.” The California-based Waymo was formerly known as the Google Self-Driving Car Project and is referred to as the world’s first autonomous ride-hailing service. The Co-CEO Tekedra N Mawakana took to X (formerly Twitter) to share the news and her gratitude, writing: “Alphabet has committed up to $5B to Waymo. “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.” Alphabet has committed up to $5B to @Waymo.