Waymo, the autonomous driving unit of Alphabet, announced Tuesday that it has raised a further $750 million in external investment. This investment is right behind the $2.25 billion financing the company raised in March — its first-ever non-Alphabet investment.
Waymo’s idea of raising $3 billion in external investment when its parent company is cash-rich Alphabet might raise some eyebrows. However, companies like Waymo and Cruise, the autonomous vehicle (AV) unit of General Motors, going for...