One of the most promising businesses that Alphabet (GOOGL) has, Waymo, has recently expanded, as investors are expecting the news to be huge for the stock in 2025. The project has been a focus for the company, receiving significant investment as it looks to become a massive player in the self-driving space.
Waymo is an autonomous car project developed by Alphabet to completely revolutionize ride-hailing services. Yet they aren’t alone. Over the last year, Uber (UBER) and Tesla (TSLA) have debuted similar projects that are looking to take significant market share. With the project still facing regulatory hurdles, Alphabet could be in an advantageous position. Moreover, it could see its stock skyrocket as a result.
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The Self-Driving Race is On, and Alphabet Stock Could Be the Big Winner
The idea of autonomous cars was always a dream for the future. Yet, with advancements in technology rapidly developing, they appear closer than anyone would’ve imagined. Just like the AI arms race spurned on by ChatGPTs, the same thing could be set to happen. But who will be the OpenAI of self-driving taxis?
Many believe that will be Alphabet, whose Waymo business has officially expanded in a move that could be huge for GOOGL stock in 2025. Specifically, the company’s autonomous taxi service will make its way to Miami. Moreover, it will begin with human-supervised testing taking place in 2025.
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That is just the beginning, as rider access through Waymo’s ONE app will follow a year later. This move is expected to build off of similar testing that took place in 2019 and will over the city’s metropolitical area that houses more than 6 million people.
Ultimately, it presents a key step in the ongoing race for Alphabet. Tesla has not been shy about its belief in its Robotaxi project. The company has been surging since the 2024 presidential election and should continue to do so. That has led a host of investors to believe in the Musk-led company in the space.
Although Musk will be critical in creating favorable regulations for self-driving vehicles, Waymo is in a prime position to take advantage. However, this isn’t a two-company race. Uber has also developed similar technology and has a much greater user base in the ride-hailing service sector than either company. Either way, 2025 should be incredibly interesting in terms of autonomous taxi services and the headway they make.