Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) self-driving company Waymo has reportedly reached the 450,000 weekly rides milestone.
Waymo Now At 450,000 Rides Per Week
Investment firm Tiger Global has launched a new investment firm, targeting a $2.2 billion raise for the firm, according to a report by CNBC on Monday. The firm holds major investments in Waymo and the artificial intelligence company OpenAI.
Waymo didn’t immediately respond to Benzinga‘s request for comment.
However, in a letter to investors obtained by CNBC, the firm shared updated figures of Waymo’s weekly Robotaxi rides, which stood at 450,000 per week, much higher than April’s 250,000 rides.
Waymo Is A Leader, Says Ross Gerber
The news comes as Waymo was hailed as a Robotaxi leader by investment firm Gerber Kawasaki‘s co-founder Ross Gerber. “Waymo is well ahead in the robotaxi business and getting further by the week,” Gerber said.
Crucially, Waymo Robotaxis are driving on the highway, and do not have an onboard safety driver present in the vehicle. Gerber also said that the advancements made by AVs will save lives.
Elsewhere, Tesla Inc. (NASDAQ:TSLA) also recently cleared a hurdle in the way of its Robotaxi ambitions. The company acquired a self-certification, which would allow the EV giant to deploy its autonomous vehicles in the state, paving the way for commercial operations of its Robotaxi operations.
Tesla scores well on Momentum, Growth and Quality, but offers poor Value. It also has a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
Price Action: GOOGL dropped 2.35% to $313.72 at Market close, but climbed 0.20% during After-hours to $314.34, according to Benzinga Pro data.
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