Apple Spent Billions Chasing A Self-Driving Car, Then Walked Away—Waymo Now Bought The Test Site For $220 Million

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Alphabet Inc.-backed Waymo has reportedly acquired Apple Inc.‘s self-driving proving facility in Arizona for $220 million. Waymo Acquires Apple Facility On Monday, the Phoenix Business Journal first reported that Waymo acquired the property from Delaware-based Route 14 Investment…


Apple Spent Billions Chasing A Self-Driving Car, Then Walked Away—Waymo Now Bought The Test Site For 0 Million

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Alphabet Inc.-backed Waymo has reportedly acquired Apple Inc.‘s self-driving proving facility in Arizona for $220 million.

Waymo Acquires Apple Facility

On Monday, the Phoenix Business Journal first reported that Waymo acquired the property from Delaware-based Route 14 Investment Partners LLC, which is associated with Apple. The 5,500-acre facility includes a 115-acre city course, as well as a four-mile oval track and a freeway course.

Don’t Miss:

Waymo didn’t immediately respond to Benzinga’s request for comment.

Apple acquired it for $125 million in 2021, with the Cupertino-based giant undertaking development efforts for proprietary self-driving technology since 2014 under the project “Titan” initiative. However, it was ultimately scrapped in 2024 after having spent over $1 billion annually on the project.

Waymo’s Uber Solution, Robotaxi Recall

While Waymo has been at the forefront of the U.S. Robotaxi revolution, the company has faced a few hiccups recently, with a Waymo customer reportedly asking to hail an Uber Technologies Inc. or a Lyft Inc. cab after the Robotaxi abruptly ended the ride.

Waymo also operates in cities like Atlanta in partnership with Uber. However, some of the ride-hailing giant’s executives painted AV-only operators like Waymo as less scalable and less reliable. The executives, instead, touted a hybrid approach with human drivers and Robotaxis being offered on ride-hailing platforms.

Trending: Avoid the #1 Investing Mistake: How Your ‘Safe’ Holdings Could Be Costing You Big Time

The operator also issued a recall for over 3,791 autonomous vehicles after a software glitch affecting its latest self-driving stack came to light. The issue stems from a glitch that could likely cause the Robotaxis to drive onto flooded roads.

Following the reports, a Waymo spokesperson said that the company had filed a “voluntary recall” with the authorities after identifying an “area of improvement regarding untraversable flooded lanes” specific to highways. Notably, Waymo currently operates in more than 10 cities across the U.S.

Photo courtesy: Shutterstock

Read Next: 

Building Wealth Across More Than Just the Market

Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry.

Arrived

Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.

Immersed

Immersed is building technology for the future of work through spatial computing. Known for its AR/VR productivity platform that enables users to work across multiple virtual screens, the company has grown to more than 1.5 million users worldwide. Immersed is also developing Visor, a lightweight headset designed specifically for professional productivity, positioning the company at the intersection of remote work, extended reality (XR), and next-generation computing.

Vinovest

Fine wine and rare whiskey have historically moved independently of the stock market, making them a compelling alternative asset. Vinovest manages authenticated, insured portfolios of investment-grade wine and whiskey starting at $5,000 — sourcing, storage, and insurance all handled for you.

EnergyX

EnergyX is a clean energy technology company focused on direct lithium extraction and refinery technologies for the lithium-ion battery supply chain. Its proprietary DLE systems are designed to recover lithium from brine resources more efficiently and with less environmental impact, supporting efforts to expand lithium supply for electric vehicles, grid-scale storage, and other battery applications.

FarmTogether

Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000 — fully managed, with no landlord headaches.

EquityMultiple

For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000, with only ~5% of opportunities passing their due diligence process.

Fundrise

Private real estate and private credit can add income and stability to a stock-heavy portfolio. Fundrise offers access to diversified private real estate and credit strategies through an easy-to-use platform, with professionally managed portfolios designed to generate passive income and long-term growth.

American Hartford Gold

American Hartford Gold is a precious metals dealer that helps clients buy physical gold and silver coins and bars, either for direct delivery or within self-directed precious metals IRAs. The company’s services include gold and silver IRAs, IRA rollovers, and home delivery of bullion, giving investors a way to use tangible metals to diversify portfolios and seek protection against inflation and market volatility.

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Source link