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Alphabet Inc (NASDAQ:GOOGL) is one of the top growth stocks in billionaire Philippe Laffont’s portfolio. On April 7, Alphabet Inc.’s (NASDAQ:GOOGL) Waymo unit began offering a fully autonomous ride-hailing service in Nashville.

The autonomous ride-hailing service is designed to cover a 60-square-mile area, including downtown Broadway, 12 South, Midtown, and East Nashville. Waymo is also conducting testing at Nashville International Airport. While the service is currently available on the Waymo APP, there are plans to start offering it through the Lyft app, with Lyft serving as the fleet partner in Nashville.

On the other hand, research firm Citizens has reiterated an Outperform rating on Alphabet following the launch of the expansive ride-hailing autonomous service in Nashville. According to Citizens analyst Andree Boone, Waymo is slowly transitioning into a sixth-generation autonomous driving system with about 3,000 vehicles on the road.

It is a significant improvement given that the company had 2,700 vehicles on the road in November. In addition, data from over 170 million miles travelled shows the service has achieved a 13-fold reduction in crashes involving serious injuries.

Alphabet Inc (NASDAQ:GOOGL) is a holding company and the parent company of Google and several former Google subsidiaries, including Waymo (autonomous driving) and Calico. It manages a diverse portfolio in AI, digital advertising, search, cloud computing, software, hardware, and research, aiming to grow beyond internet services.

While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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