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A Waymo robotaxi driving on a highway in Phoenix. | Credit: Waymo
Alphabet CFO Ruth Porat said the company is committing to a multi-year investment of up to $5 billion to Waymo during its Q224 earnings call Tuesday. Despite facing struggles last year, GM also invested $850 million more into its self-driving unit, Cruise, last month.
“With regard to other bets, we continue to focus on improving overall efficiencies as we invest for long-term returns. Waymo is an important example of this, with its technical leadership coupled with progress on operational performance,” Porat explained, “As you will see in the 10 Q, we have chosen to commit to a new multi-year investment of $5 billion. This new round of funding, which is consistent with recent annual investment levels, will enable Waymo…
