'Alphabet's Self-Driving Unit Waymo Closes $5.6B Funding Round As Robotaxi Race Heats Up In The U.S.' - CNBC
Portfolio Pulse from Benzinga Newsdesk
Alphabet's self-driving unit, Waymo, has closed a $5.6 billion funding round to expand its robotaxi service across the U.S. This funding will support Waymo's expansion in cities like Los Angeles, San Francisco, Phoenix, Austin, and Atlanta, and further develop its autonomous technology. Alphabet, Waymo's parent company, has committed up to $5 billion in a multiyear investment to support this growth.
October 25, 2024 | 2:35 pm
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Alphabet's self-driving unit, Waymo, has secured $5.6 billion in funding to expand its robotaxi services, with Alphabet committing up to $5 billion in a multiyear investment. This positions Alphabet as a leader in the autonomous vehicle market.
The $5.6 billion funding round for Waymo, Alphabet's self-driving unit, is a significant investment that will likely enhance Alphabet's position in the autonomous vehicle market. The commitment of up to $5 billion by Alphabet indicates strong support and potential for growth in this sector, which could positively impact Alphabet's stock price.
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