Sign up to receive 5 free days of our daily summary for tech news.

Special Offer: Try out The Information today for only $10/month for your first 3 months.
Google

Alphabet’s Waymo Seeks Outside Investors

Alphabet’s Waymo self-driving car division has been seeking financing from outside investors, such as European automakers like Volkswagen, according to a person with direct knowledge of the situation. The efforts suggest Alphabet wants to limit how much money it invests in the division, and show how valuable other parties believe it to be.

Waymo is currently thought to be costing Alphabet at least $1 billion a year, say former employees and other industry executives. While Alphabet can easily afford that investment—it has more than $100 billion in cash and generates more than $20 billion of extra cash annually—CFO Ruth Porat has been pushing its various units to operate more efficiently and cut costs.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Crypto Venture Capital
An Internet Philosopher Finds Inner Peace

The man some people call the “monk of Silicon Valley,” a “tech Buddha” and a “modern Yoda” really doesn’t want to talk about himself. 

Doing so, Naval Ravikant tells me, is a “low-value distraction” from his work, the subject of which is what prompted me to ask Ravikant for an interview in the first place. Although ostensibly an ...

Latest Briefs
 
A Google Employee Tests Positive for Coronavirus
Bitcoin’s Not a Safe Haven
Sanders Would Tax Options at Vesting
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A's
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.