Alphabet’s Waymo Signs Exclusive Deal

Alphabet’s Waymo Signs Exclusive Deal

over 3 years ago2 mins

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Google-parent Alphabet and Italian-American carmaker Fiat Chrysler announced they’d signed an exclusive deal to go on a shadowy flight into the dangerous world of... developing self-driving commercial vehicles together 🤝

What does this mean?

Having worked with Fiat back in 2016, Alphabet thinks the carmaker is the right partner to help it make a name for itself in the self-driving commercial vehicle market. The tech giant will start by working to introduce autonomous driving technology – developed by its Waymo business – into Fiat’s Ram ProMaster van, and then they’ll work together exclusively on “Level 4” autonomous vehicles, which require a driver to be present but not active 🛣

Waymo has been busy: last month it announced it’d be teaming up with Sweden’s Volvo to develop self-driving electric vehicles, potentially for ride-hailers like Lyft to use. And if anyone’s a safe pair of hands, it’s Volvo…

Why should I care?

Of the 29 investment analysts who cover Alphabet’s stock, 28 of them are recommending that investors buy at the moment. But even the most optimistic don’t think the company’s “other bets” – including AI firm DeepMind, healthcare organization Verily, and, yup, Waymo – make any difference to its overall valuation 🤷‍♀️ So if long-term investors do their homework, they might find Waymo could become a sustainable business that propels Alphabet’s value far beyond its current $1 trillion in years to come.

Source: Markets Insider
Source: Markets Insider

The 290% rise of Tesla’s shares this year has some investors counting the days until the electric carmaker joins the S&P 500, America’s biggest stock market index. To qualify, the company needed to report four consecutive quarters of profit – and it just did exactly that late on Wednesday ⚡️ Its investors should be very pleased indeed: investment funds that track companies in the S&P 500 may now be forced to buy its shares, likely boosting its stock even more.

Source: The Wall Street Journal
Source: The Wall Street Journal
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