Google's parent company, Alphabet, announced it will invest an additional $5 billion in Waymo, its self-driving car unit.
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00:00It's Benzinga, and here's what's on the block.
00:02Google's parent company, Alphabet, announced it will invest an additional $5 billion in
00:06Waymo, its self-driving car unit.
00:09CFO Ruth Perot announced this multi-year investment on the company's second quarter earnings call.
00:14Waymo provides around 50,000 paid rides per week in San Francisco and Phoenix, and has
00:19completed over 2 million trips in total.
00:21Alphabet is boosting its investment in Waymo as competitors General Motors, Cruze, and
00:26Tesla delay their autonomous vehicle projects.
00:28For all things money, visit Benzinga.com.