Waymo's backers valued it at $126 billion. The Alphabet division that houses it brought in $372 million last quarter -- and lost $2.05 billion

Alphabet’s market value fell by $482 billion Thursday—the company’s worst day since going public in 2004—after analysts pointed to weakness in Google’s core search business. Amid the broader sell-off, Waymo’s parent “Other Bets” posted $372 million in revenue in Q3, about 0.29% of Alphabet’s $127.6 billion in sales, and still recorded an operating loss of $2.05 billion, more than five times the loss a year earlier. Alphabet said Other Bets revenues come mainly from autonomous transportation and internet services. Waymo’s expansion is supported by both Alphabet backing and external investors: a $16 billion round in February valued it at $126 billion and is set to expand into more than 20 additional cities in 2026, including London and Tokyo.