Waymo's $126B valuation contrasts with $2.05B quarterly loss at Alphabet's Other Bets

Alphabet lost $482 billion in market value Thursday, its worst day since going public in 2004, driven by concerns over Google's core search business. The sell-off overshadowed the company's third-quarter results, which showed overall revenue growth of 25%. Waymo, housed in Alphabet's Other Bets division, generated $372 million in revenue during Q3 2026, about 0.29% of Alphabet's $127.6 billion in sales, while posting an operating loss of $2.05 billion. The division lost $5.50 for every $1 of revenue, with losses widening from $1.43 billion a year earlier. Waymo is expanding internationally to London and Tokyo, supported by a $16 billion funding round in February that valued it at $126 billion and a $5 billion term loan closed in October. Alphabet's capital expenditures more than doubled to $51.4 billion in Q3, primarily for AI infrastructure.