Waymo's growth is reinforcing Alphabet's tech dominance and strengthens the bull case for the stock.

Waymo's growth is reinforcing Alphabet's tech dominance and strengthens the bull case for the stock.

The Alphabet-owned company said it is now valued at $126 billion.

The funding round valued the Alphabet subsidiary at $126bn as company aims to expand more cities worldwide

While analysts acknowledged Alphabet's higher spending, they were also more optimistic than the stock's 3% slide Thursday morning seemed to suggest.