May 12, 2020 - Economy & Business

Waymo raises another $750 million for self-driving cars

Waymo's self-driving lineup. Photo: Waymo

Waymo said Tuesday that it has raised another roughly $750 million for its self-driving technology, expanding the size of its first external investment round to $3 billion.

Why it matters: With the coronavirus pandemic likely to speed consolidation among self-driving tech firms, investors are lining up behind companies they see as the most likely winners.

  • Until early March, when it announced a $2.25 billion financing round, Waymo had been funded entirely by Google and its corporate parent, Alphabet.
  • The latest investors include T. Rowe Price, Perry Creek Capital, Fidelity Management & Research Company, and others.
  • They join Silver Lake, Canada Pension Plan Investment Board, Mubadala Investment Company, Magna International, Andreessen Horowitz and AutoNation, who participated in the March 2 round.

The bottom line: Waymo CEO John Krafcik tells Axios the pandemic has underscored how fully self-driving technology can provide safe and hygienic personal mobility and delivery services.

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Trump's week of viral quicksand

Data: NewsWhip; Chart: Andrew Witherspoon/Axios

Stories about President Trump's photo op at St. John's church after peaceful protesters were forcefully cleared from the area averaged the most online attention of any issue about the president this week.

Why it matters: Trump's force-over-compassion approach to the demonstrators protesting the murder of George Floyd had Republican allies backpedaling to keep a distance — and led to a wave of condemnations that got plenty of online traction on their own.

Biden formally secures Democratic presidential nomination

Joe Biden speaks at Delaware State University's student cente on June 5. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden became the formal Democratic presidential nominee on Friday evening, per AP.

The big picture: Biden has been the presumptive frontrunner to take on President Trump since Sen. Bernie Sanders suspended his campaign in early April.

Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 6,724.516 — Total deaths: 394,018 — Total recoveries — 2,996,832Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 1,894,753 — Total deaths: 109,042 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: WHCA president says White House violated social-distancing guidelines to make reporters "a prop" — Jailing practices contribute to spread.
  4. Sports: How coronavirus could reshuffle the sports calendar.
  5. Jobs: Better-than-expected jobs report boosts stock market.
  6. Media: The Athletic lays off 8% of staff, implements company-wide pay cut.