Waymo growth

Last month Alphabet reported an impressive set of numbers. Part of the earnings release revealed that Alphabet is investing an additional $5 billion into the driverless taxi company Waymo.

Google first started developing self-driving technology in 2009, a division that would become Waymo and spun out of Alphabet in 2016. In 2020, the company started offering its services without safety drivers in the cars. Earlier this week, company CEO Tekedra Mawakana announced that they now service 100 000 customers a week, double the reported number in May.

Tesla is also pursuing self-driving technology, with the ambition of introducing a robotaxi in years to come - there will be a big robotaxi update on 10 October. Infamous investor Cathy Wood thinks that Tesla's robotaxi could make it a $10 trillion company one day. Given the scale of Waymo, I'm surprised that it doesn't get more attention from investors.