Waymo is working to develop fully autonomous vehicles. The company believes that this technology can save lives by minimizing human error or impairment, which is a factor in the overwhelming majority of crashes in the U.S. Additionally, Waymo believes that autonomous driving technology can empower people who can't drive due to age or disability with the freedom of mobility.
The company is building Waymo Driver, the world's most experienced driver. The technology has logged more than 100 million miles on public roads as of mid-2025. Waymo is working to monetize this autonomous driving technology through Waymo One, its public, fully autonomous ride-hailing service, which it is expanding to new cities across the country.
Analysts believe that the market value of robotaxi services like Waymo One could grow into a $47 billion opportunity by 2034. That growth potential makes Waymo a compelling investment opportunity. Here's everything you need to know about investing in the company before it completes an initial public offering (IPO) and some other autonomous driving companies to consider.
IPO
Artificial Intelligence
People who want to invest in one of these Waymo alternatives can buy shares in any brokerage account. Here's a step-by-step guide on how to invest in stocks.
- Open your brokerage account: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Is Waymo profitable?
Alphabet doesn't break out the profitability of its "other bets" segment, which includes its investment in Waymo, so we don't know if Waymo is a profitable company.
However, Waymo is likely not profitable yet. Alphabet's other bets produced $373 million in revenue in the second quarter of 2025. Meanwhile, that subsidiary posted an operating loss of $1.25 billion. Given those numbers, Waymo likely isn't making money yet.
The company is still investing heavily in researching and developing its autonomous vehicle technology. It likely has a long way to go before it's on the road to profitability. However, the company continues to expand, including building out its fleet of robotaxis in the San Francisco Bay Area to 800 in mid-2025.
Should I invest in Waymo?
You can't currently invest directly in Waymo because it's not a publicly traded company. That gives you plenty of time to research the company while you await its IPO to decide whether it's a good fit for your financial situation. With that in mind, here are some reasons why you might consider investing in the autonomous driving company:
- You think autonomous driving is the future.
- You believe Waymo can tap into the tremendous robotaxi market potential.
- You think that Waymo can eventually become a very profitable company.
- You want to invest in a company Alphabet has built from the ground up.
On the other hand, here are some reasons why investing in Waymo might not be best for you:
- You're not sure enough of the population will ever be comfortable with riding in fully autonomous vehicles.
- You don't think Waymo can ever get on the road to profitability.
- You're concerned about potential safety issues with autonomous driving.
- You're not sure if Waymo will emerge as the technological leader in autonomous driving.
ETFs with exposure to Waymo
You can't currently invest indirectly in Waymo via exchange-traded funds (ETFs) because it's a private company owned by Alphabet and other investors. However, you can use ETFs to invest in the autonomous driving trend. Here are two autonomous vehicle ETFs to consider.
- KraneShares Electric Vehicles & Future Mobility Index ETF (KARS +2.80%): This ETF focuses on companies investing in electric vehicles, autonomous driving, shared mobility, lithium and copper production, batteries, and hydrogen fuel cells. The fund had 54 holdings in mid-2025, including Tesla (at 3.29%). The ETF had a 0.72% expense ratio.
- SPDR S&P Kensho Smart Mobility ETF (HAIL +2.14%): This fund focuses on companies driving innovation in smart transportation, including autonomous vehicles, drones, and advanced transportation systems. The ETF had 80 holdings in mid-2025, including Tesla (at 1.48%). The fund had a 0.45% expense ratio.
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The bottom line on Waymo
Waymo is one of the early leaders in autonomous driving. The company has the backing of tech titan Alphabet and other leaders in the venture capital technology and automotive worlds. While it's still in the early stages of developing and testing its technology, it has tremendous potential. Because of that, it's a very exciting company to watch since its technology could save countless lives while empowering the immobile with the freedom of mobility.
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