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Robotaxi competition is heating up, as two Big Tech firms vying for autonomous driving dominance announced competing rollouts this week.
Following fast on Tesla’s (TSLA) heels, Waymo announced on Tuesday it is rolling out its robotaxi service in Atlanta as part of its partnership with Uber (UBER).
In addition to the Atlanta geography, the more established Alphabet-backed (GOOG, GOOGL) autonomous driving startup now offers self-driving rides in Los Angeles, Austin, Phoenix, and San Francisco and is expected to begin operating in Miami and Washington, D.C., next year.
But Alphabet shares, which rose a little over 1% on Tuesday morning, haven’t received the same investor excitement as Tesla shares.
Tesla stock extended gains in premarket trading on Tuesday after launching its robotaxi service in Austin, Texas, over the weekend. Investors generally viewed the rollout as successful, despite some reported hiccups, boosting the stock over 8% on Monday. Tesla shares were up 2% Tuesday morning.
Meanwhile, ride-hailing companies Uber and Lyft (LYFT) also gained premarket. Uber shares were up 3% on the Waymo rollout, while Lyft stock popped 5% after TD Cowen upgraded the stock.