In the third quarter, Alphabet’s Other Bets segment, which includes Waymo, generated $372 million in revenue, up 8% from a year earlier but accounting for just 0.3% of Alphabet’s total sales. The segment’s operating loss widened from $1.43 billion to $2.05 billion amid heavy artificial intelligence investment and negative free cash flow. Waymo now operates robotaxis in 15 major U.S. cities and plans expansions in Canada, Germany, Singapore and Spain, with a German launch targeted for 2027, while Baidu’s Apollo Go poses its strongest international competition. The company raised $16 billion at a $126 billion valuation and closed a $5 billion term loan, its first debt financing.
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