Asia Tech Wire (July 24) -- Alphabet Chief Financial Officer Ruth Porat said the company will invest an additional $5 billion in its self-driving car unit Waymo, according to CNBC.

Porat, the outgoing finance chief, said on the company's earnings call Tuesday, "This new round of funding will enable Waymo to continue to build the world's leading autonomous driving company."

She added that Waymo is an "important example" of Alphabet's long-term investments, and that more information on the "multi-year" investment would be available in the company's quarterly filing.