Waymo holds $126B valuation as Alphabet’s Other Bets loses $2.05B

Alphabet's record sell-off puts its cash-hungry robotaxi unit in an awkward spot as it expands to London and Tokyo Alphabet shed $482 billion in market value on Thursday. That was its worst trading session since the company went public in 2004. Somewhere in that wreckage sits Waymo, a robotaxi business valued at $126 billion that brought in less revenue last quarter than some mid-sized software firms. Investors did not dump the stock because of self-driving cars. Still, the timing could hardly be worse for a unit that burns cash and is about to go international. The numbers behind the drop Alphabet released its third-quarter 2026 results on October 28. Revenue came in at $127.6 billion, up 25% year over year. That sounds healthy until you learn it missed consensus estimates. Wall Street grades on expectations, and Alphabet didn’t clear the bar. Net income fell 25% to $26.17 billion for the quarter. Adjusted earnings per share landed at $2.67. The figure that likely stung most was free cash flow, which swung to a negative $9.07 billion. Rising spending on AI infrastructure drove that slide. Shares fell approximately 10-13% on October 29. Analysts pinned the sell-off on Google’s core...