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Waymo, Toyota strike partnership to bring self-driving tech to personal vehicles

1. Waymo and Toyota announced a partnership for robotaxi technology in personal vehicles. 2. Waymo aims to enhance next-gen vehicles using its autonomous technology. 3. Waymo's paid rides increased to 250,000 weekly, up from 200,000 in February. 4. Commercial driverless services are active in major U.S. cities like San Francisco. 5. Alphabet CEO highlighted undefined long-term business models for Waymo's technology.

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Why Bullish?

The partnership enhances Waymo's market position and showcases innovation potential similar to past disruptions in the automotive sector, such as Tesla's rise due to electric vehicle technology. Increased ridership further indicates growing consumer acceptance and operational efficiency.

How important is it?

This partnership signals a strategic advancement in autonomous technology, which could be crucial for long-term growth. Enhancements in ride-hailing capabilities could lead to increased revenue streams for Alphabet and bolster investor confidence.

Why Long Term?

The effects of this partnership could take time to materialize in the market, similar to how Tesla's early partnerships to develop its infrastructure took years to fully impact its stock price positively.

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