"The funding probably carries Waymo all the way to a public listing where it would join several other autonomous vehicle rivals," said BloombergNEF analyst Andrew Grant.
"By taking outside capital, Alphabet is hedging its risk of going all-in on autonomous driving, an industry that will likely face regulatory hurdles as it grows."
"Waymo runs a commercial ridehailing platform in San Francisco, Phoenix and Los Angeles, where it charges fares for trips in self-driving cars."
"Earlier this year, Alphabet pledged to invest as much as $5 billion over several years to help the startup build its autonomous driving technology."
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