Alphabet Shares Rise 3% on Waymo Expansion

Alphabet Inc., the parent company of Google, saw its shares rise more than 3 percent on Wednesday, with Class C shares reaching 313.96 and Class A shares climbing to around 317, buoyed by expansions in its autonomous vehicle unit and ongoing artificial intelligence advancements ahead of first-quarter earnings.

The uptick, which outpaced the broader communication services sector's 1.47 percent gain, reflected investor optimism about Alphabet's strategic positioning in AI and cloud computing. Trading volume remained robust as the stock recovered from earlier year-to-date losses of about 2.34 percent. The move came amid a broader technology sector rebound, with the Nasdaq Composite also advancing.

A key driver was the expansion of Waymo, Alphabet's self-driving ride-hailing service, into Nashville, Tennessee. The launch marks the fifth U.S. city for fully driverless operations, following San Francisco, Los Angeles, Phoenix, and Austin. Each addition requires regulatory approvals, mapping, and fleet deployment, validating Waymo's technology after years of investment. Alphabet committed $16 billion to Waymo in February, primarily from its own funds, despite the unit's operating...