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00:02Alphabet's Waymo is expanding its robo-taxi operations as its parent company faces mounting
00:08costs from artificial intelligence investments, according to CNBC. Alphabet reported $372 million
00:15in third quarter revenue from its other bets segment, which includes Waymo, up 8% year over
00:21year. Operating losses widened to $2.05 billion from $1.43 billion.
00:29Waymo operates in 15 major U.S. cities and plans to expand into Canada, Germany, Singapore,
00:36and Spain. Earlier this month, Waymo secured a $5 billion term loan following a $16 billion
00:42funding round in February. Alphabet reported negative free cash flow exceeding $9 billion
00:48and maintained its annual capital expenditures forecast of $195 billion to $205 billion.
00:57Shares of Alphabet fell nearly 10% in extended trading on Wednesday following an earnings
01:02and revenue miss.
01:03For all things money, visit Benzinga.com.
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