🚀 Waymo raising $15B

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Market Overview
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Year To Date Performances:

1. Alphabet-owned Waymo is in talks to raise more than $15 billion in a new funding round that could value the self-driving car company at up to $110 billion, more than doubling its valuation from its last round in October 2024. The funding, expected to come from Alphabet and outside investors, underscores Waymo’s position as the clear leader in the U.S. robotaxi market as it ramps up spending to expand its fleet and geographic footprint. Waymo currently operates or tests its service in 26 markets and already offers paid rides in cities including San Francisco, Los Angeles and Austin. Alphabet CEO Sundar Pichai has said Waymo could begin contributing meaningfully to Alphabet’s financial results as soon as 2027.

2. President Donald Trump has designated Venezuela’s government a “foreign terrorist organization” and ordered a “complete and total” blockade of sanctioned oil tankers moving in and out of the country, sharply escalating U.S. pressure on President Nicolás Maduro. While the move targets Venezuelan crude exports, energy analysts say the immediate impact on global oil markets may be limited, since only sanctioned tankers are affected and the world is currently facing an oil surplus. Estimates suggest the disruption could threaten 300,000 to 900,000 barrels per day, potentially lifting prices by $2 to $3 per barrel, but not enough to cause a sustained spike. Markets are now focused on whether China, the largest buyer of Venezuelan oil, will comply with U.S. sanctions or continue importing discounted crude.

3. Tesla shares closed at a record $489.88 on Tuesday, capping a sharp comeback driven less by electric vehicle sales and more by renewed investor faith in Elon Musk’s long-promised robotaxi vision. After plunging 36% in the first quarter, the stock is now up 21% for the year, buoyed by Musk’s claim that Tesla is testing fully driverless cars in Austin without human occupants, fueling hopes that existing Teslas could soon become robotaxis via software updates. The rally has pushed Tesla’s market cap to $1.63 trillion, even as its core EV business remains under pressure from fading tax credits, brand backlash tied to Musk’s politics, and intensifying global competition. Analysts betting on autonomy argue improvements in Tesla’s Full Self-Driving tech could accelerate robotaxi expansion, but safety questions persist, and current robotaxi services still rely on human supervision.

   Headlines

   1. Tesla’s Autopilot judged to be deceptive marketing by a California court.

   2. Payrolls rose by 64,000 in November.