In stunning turn, Uber pays to settle its court battle with Waymo

Five days into an epic court battle that was expected to last for weeks, Uber abruptly settled a lawsuit Friday brought by Waymo, part of Google parent Alphabet, over the alleged theft of trade secrets. As part of the deal, company officials said, Uber has agreed to pay 0.34 percent of the company's equity at a $72 billion valuation -- a sum that exceeds $244 million. The deal also includes a guarantee that Uber will not incorporate confidential Waymo self-driving-car technology into Uber's hardware and software, a Waymo spokesman said. The deal was announced in a San Francisco federal court before testimony began, shocking many in the audience and leading to a rapid succession of prepared statements from each side. Uber chief executive Dara Khosrowshahi released a statement saying he wants to "express regret" and commit Uber to taking steps to ensure that its self-driving technology "represents just our good work."