Alphabet’s Waymo services is looking to hit $1 million paid customers per week this year, a great look for GOOGL shareholders. The Alphabet-owned robotics service is Tesla’s biggest competitor in autonomous cab service, with its fleet expanding rapidly in the past year. Now by the end of 2026, the company aims to surpass one million paid rides each week.
In an interview conversation with Bloomberg Tech, Waymo co-chief executive Tekedra Mawakana outlined what comes next for the Alphabet (NASDAQ:GOOGL)-backed company, widely seen as the clear leader in the robotaxi race. Often in the last several months, Alphabet (GOOGL) stock has seen a jump when Waymo has promising updates, especially against Tesla (TSLA). Waymo is continuing its US expansion while also looking to expand oversees, with London and Tokyo on its radar.
Waymo ended last year having quadrupled the number of trips it provided, delivering 15 million rides in a single year and surpassing 20 million lifetime rides. The service now operates across six US cities and handles roughly 400,000 paid trips each week. Miami is the most recent launch, and the company is laying the groundwork for more than 20 additional cities this year alone. Furthermore, as Tesla has faced regulatory scrutiny, it has opened the door for Waymo to lead the robotics spotlight, sending GOOGL higher.
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Furthermore, Alphabet GOOGL stock ticked higher this week after an announced bond sale to continue funding its AI efforts. The Google developer is launching a sweeping seven-part debt sale to bankroll its aggressive expansion into artificial intelligence for the first time this year. Alphabet is aiming fund a record-breaking $185 billion AI spending spree.
In the past week, on the other hand, GOOGL stock is down 6%, in part thanks to a bearish warning from Wall Street legend Michael Burry. The ‘Big Short’ investor explained that Google’s recent decision to issue the 100-year debt bond would spell doom for the tech giant. He said that the bond is a sign that the company’s dominance in the tech space is coming to an end. Some investors heeded this warning and sold off Alphabet GOOGL shares, sending the stock down in the last 48 hours.