Turing Eyes $10B IPO as Waymo Expands in Dallas

A Japanese Challenger Sets Its Sights on America

Turing, a Tokyo-based self-driving software startup, is preparing to open a U.S. office as part of an ambitious plan that could value the company at as much as $10 billion in a future initial public offering 1. The company is developing driver-assistance software it hopes to mass-produce for vehicles in both Japan and the United States by 2030, positioning itself as a serious contender in a field long dominated by American and Chinese players 1. The move signals growing confidence among Japanese tech firms that autonomous driving software, rather than hardware alone, will be the next major battleground in the global auto industry.

Waymo Keeps Scaling While Rivals Regroup

Turing's expansion comes as the competitive landscape for autonomous vehicles continues to shift rapidly. Alphabet-owned Waymo recently eliminated its waitlist for robotaxi rides in Dallas, opening the service to the general public as part of a broader push to scale operations across the United States, the United Kingdom, and continental Europe 6. That expansion underscores how far ahead Waymo remains in commercial deployment, even as newer entrants like Turing attempt to stake out a foothold through software licensing rather than operating their own ride-hailing fleets.

The contrast is notable: while Waymo focuses on removing friction for riders in cities it already serves, Turing is still in the earlier stages of building toward mass production, aiming for a 2030 timeline that trails Waymo's current commercial footprint by years 16.

Lessons From Failed and Adjacent Efforts

Not every automotive AI bet has paid off directly. Apple's own self-driving car project ultimately collapsed, but the effort wasn't wasted — the pursuit of powerful on-device AI processing for autonomous driving helped give rise to Apple's Neural Engine, a chip innovation that has since reshaped the company's broader hardware strategy 4. The episode illustrates how investment in self-driving technology can generate valuable spinoff benefits even when the original commercial goal isn't realized, a cautionary but instructive parallel for newer entrants like Turing.

A Broader Ecosystem in Motion

Interest in self-driving and adjacent transportation technology continues to widen beyond any single company. In Michigan, a technology showcase recently brought together self-driving cars, drones, and rocket technology, highlighting the state's efforts to remain a hub for emerging transportation innovation 3. Meanwhile, investors looking to gain exposure to the sector without betting on individual companies have increasingly turned to self-driving-focused exchange-traded funds, which bundle stocks across the autonomous vehicle supply chain 2.

Even traditional automakers are folding driver-assistance sensibilities into conventional vehicles, as seen in Mercedes' latest CLA and Mazda's newly engineered CX-5, both of which emphasize refined driving feel and advanced onboard technology 57. Together, these developments reflect an industry where full autonomy, driver assistance, and traditional automotive engineering are increasingly converging, even as companies pursue distinctly different paths and timelines toward that future.