Alphabet Announces Additional $5 Billion Multi-Year Investment in Waymo

Jul 23, 2024, 09:10 PM

Alphabet Inc. has announced a new multi-year investment of an additional $5 billion into its self-driving car unit, Waymo. This decision was disclosed during the company's quarterly earnings call by CFO Ruth Porat, who noted that the investment is consistent with recent annual investment levels. The funding aims to further develop Waymo's autonomous driving technology and support its commercialization efforts. This move underscores Alphabet's commitment to maintaining its position as a leader in the autonomous vehicle industry. The investment details will be included in the company's 10-Q filing.