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Waymo doubles spending on lobbying in robotaxi battle with Uber

Waymo has sharply increased its lobbying spending as it seeks to persuade US regulators to clear a path for fully autonomous taxi services, intensifying its battle with rival Uber over the future of robotaxis.

The Alphabet-owned company spent more than $1 million between April and June on lobbying the federal government, more than double its outlay a year earlier, according to filings. That put Waymo’s spending close to Uber’s and well ahead of rivals including Amazon’s Zoox and Tesla.

The rise in lobbying comes as Waymo and Uber push competing visions for the future of ride-hailing. Waymo wants a faster route to fully driverless commercial services, while Uber is advocating a staggered rollout in which robotaxis operate alongside human drivers.

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Β© Alex Kent, Bloomberg

US government takes $2 billion equity stake in nine quantum computing firms

The US government will take equity stakes worth a total of $2 billion in a slew of quantum computing companies, including a startup backed by a firm with links to the Trump family and one taken public by a Pentagon official.

The announcement by the commerce department that it had signed letters of intent with nine companiesβ€”including GlobalFoundries and IBMβ€”sent shares in quantum specialists soaring on Thursday.

Both IBM, which is set to get $1 billion, and GlobalFoundries, which will receive $375 million, were up more than 6 percent in pre-market trading. D-Wave Quantum, an awardee that was taken public in 2022 by Emil Michaelβ€”now a top Pentagon officialβ€”was up more than 20 percent.

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Β© IBM

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