{"id":65363,"date":"2026-07-24T15:38:18","date_gmt":"2026-07-24T19:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-and-markets-tumble-as-waymo-uber-alliance-fractures\/65363\/"},"modified":"2026-07-24T15:38:18","modified_gmt":"2026-07-24T19:38:18","slug":"tech-and-markets-tumble-as-waymo-uber-alliance-fractures","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-and-markets-tumble-as-waymo-uber-alliance-fractures\/65363\/","title":{"rendered":"Tech and Markets Tumble as Waymo-Uber Alliance Fractures"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Waymo (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) is reportedly exploring a split from Uber (<a href=\"\/stock\/UBER\">UBER<\/a>)<\/strong> as the two companies clash over robotaxi regulations and market dominance, sending Uber shares down <strong>4.3%<\/strong>.<\/li>\n<li><strong>The Nasdaq 100 (<a href=\"\/stock\/NDAQ\">NDAQ<\/a>) fell 1.3% to a fresh session low<\/strong>, extending a sharp tech sell-off driven by disappointing earnings from Tesla (<a href=\"\/stock\/TSLA\">TSLA<\/a>) and Alphabet.<\/li>\n<li><strong>Saudi Arabia\u2019s Public Investment Fund (PIF)<\/strong> signed a <strong>$15 billion<\/strong> MOU with the <strong>U.S. Export-Import Bank<\/strong> to finance strategic procurement of U.S. goods and services.<\/li>\n<li><strong>Elon Musk<\/strong> announced an accelerated release schedule for xAI&#39;s flagship models, with <strong>Grok 4.6<\/strong> due in two weeks and <strong>Grok 4.7<\/strong> in four weeks.<\/li>\n<\/ul>\n<h2>Waymo and Uber Face Strategic Divorce<\/h2>\n<p>Alphabet&#39;s autonomous driving unit, <strong>Waymo (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong>, is considering ending its partnership with <strong>Uber (<a href=\"\/stock\/UBER\">UBER<\/a>)<\/strong> as tensions over the future of the robotaxi industry reach a breaking point. According to reports from the <em>Financial Times<\/em>, Waymo has already notified Uber of its intent to operate independently in <strong>Austin<\/strong> and <strong>Atlanta<\/strong> starting in <strong>January 2028<\/strong>.<\/p>\n<p>The relationship has soured as both companies engage in aggressive lobbying battles, with Uber favoring &quot;hybrid&quot; networks that mandate human drivers and Waymo pushing for fully autonomous commercial freedom. This potential split is a significant blow to Uber, which has invested over <strong>$10 billion<\/strong> in autonomous vehicle (AV) agreements to compensate for selling its own AV division in 2020.<\/p>\n<h2>Nasdaq 100 Extends Losses Amid Tech Rout<\/h2>\n<p>The <strong>Nasdaq 100 (<a href=\"\/stock\/NDAQ\">NDAQ<\/a>)<\/strong> dropped <strong>1.3%<\/strong> on Friday, hitting a fresh low as investors continued to dump high-growth technology stocks. The decline follows a brutal session for <strong>Tesla (<a href=\"\/stock\/TSLA\">TSLA<\/a>)<\/strong>, which plunged nearly <strong>15%<\/strong> after a major earnings miss, and <strong>Alphabet (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong>, which fell <strong>7%<\/strong> despite strong results due to concerns over ballooning capital expenditures.<\/p>\n<p><em>Market sentiment has turned increasingly selective<\/em>, with investors showing little tolerance for heavy AI infrastructure spending that lacks a clear, immediate path to profitability. The broader <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> and <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/strong> also faced pressure, though small-cap stocks showed relative resilience compared to their megacap peers.<\/p>\n<h2>Saudi PIF Secures $15 Billion U.S. Credit Line<\/h2>\n<p>The <strong>Public Investment Fund (PIF)<\/strong> of Saudi Arabia has entered into a Memorandum of Understanding (MOU) with the <strong>U.S. Export-Import Bank (EXIM)<\/strong> worth up to <strong>$15 billion<\/strong>. This agreement establishes a long-term financing framework for PIF portfolio companies to purchase U.S.-origin goods and services across sectors like <strong>advanced technology<\/strong>, <strong>aerospace<\/strong>, and <strong>future mobility<\/strong>.<\/p>\n<p>The deal reinforces the U.S. as PIF\u2019s top international market, with the fund having already procured <strong>$65 billion<\/strong> in U.S. goods since 2017. This massive credit facility is part of Saudi Arabia&#39;s broader strategy to diversify its economy away from oil and accelerate industrial innovation through global commercial partnerships.<\/p>\n<h2>Musk Accelerates xAI Model Roadmap<\/h2>\n<p>Elon Musk confirmed on Friday that <strong>xAI<\/strong> is moving to a monthly release cadence for its <strong>Grok<\/strong> artificial intelligence models. <strong>Grok 4.6<\/strong>, which features a <strong>2-trillion-parameter<\/strong> architecture trained on <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> GB300 hardware, is scheduled for release in just two weeks, followed by <strong>Grok 4.7<\/strong> two weeks later.<\/p>\n<p>The upcoming models will reportedly integrate proprietary engineering data from <strong>SpaceX<\/strong> and real-world driving data from <strong>Tesla (<a href=\"\/stock\/TSLA\">TSLA<\/a>)<\/strong>. Musk claims these updates will significantly improve Grok&#39;s reasoning and engineering capabilities, positioning it to challenge frontier models from <strong>Anthropic<\/strong> and <strong>OpenAI<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Waymo (GOOGL) is reportedly exploring a split from Uber (UBER) as the two companies clash over robotaxi regulations 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