Alphabet will spend an additional $5 billion on its self-driving subsidiary, Waymo, over the next few years, to continue building the world's leading autonomous driving technology company.
Porat announced the commitment to a new 'multi-year investment' during Alphabet's second-quarter earnings call, emphasizing Waymo's technical leadership and operational progress.
Google will focus on improving efficiencies in its 'other bets' segment, including Waymo, alongside companies like Verily, Calico, Google Ventures, and Wing.
More details on Alphabet's investment in Waymo will be available in the upcoming 10-Q form, with the aim to bolster autonomous driving technology development.
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