Waymo Secures $5.6 Billion from Alphabet's Google to Expand Autonomous Ride-Hailing Services

Oct 28, 2024, 02:45 PM

Waymo, Alphabet Inc.'s self-driving unit, has secured $5.6 billion in a new funding round led by Google on October 27. The investment aims to expand Waymo's autonomous ride-hailing services in cities such as San Francisco, Phoenix, Los Angeles, Austin, and Atlanta, in partnership with Uber. The funding will support the growth of Waymo One, the company's ride-hailing service, and further the development of AI-enabled robotic taxis, with plans to expand to new cities by 2025.