Alphabet to Invest Additional $5 Billion in Waymo

• Alphabet's CFO Ruth Porat announced a new multi-year investment of $5 billion in Waymo during the company's Q2 earnings call.
• The funding will support Waymo's goal to build the world's leading autonomous driving technology company.
• Google aims to improve efficiencies in its 'other bets' segment, which includes projects like Verily, Calico, and Wing.
• Waymo is delivering over 50,000 paid rides per week and has expanded its driverless ride-hail service to Los Angeles and Austin.

Source: Techcrunch