Alphabet (GOOG) and Walgreens (WBA) are climbing 3% and 8%, respectively, today. Alphabet's partnership with Uber (UBER) kicked off in Austin, while private equity firm Sycamore Partners is reportedly close to acquiring WBA.

Alphabet's Alliance With Uber Begins

Alphabet's Waymo unit began providing driverless vehicles for Uber riders in a portion of Austin, Texas today. Uber's customers within the area can request rides in Waymo's completely autonomous electric Jaguar I-PACE vehicles. The customers will not have to pay extra fare for the rides.

A driverless vehicle navigating city traffic, equipped with ADAS and safety features.

Waymo is slated to begin offering rides in Atlanta later this year before expanding to Miami in 2026.

 Walgreens Is Close to Being Acquired

Sycamore is nearing a deal to buy WBA for roughly $10 billion or $11.30 to $11.40 per share, The Wall Street Journal reported, adding that the deal may be wrapped up this week. Additionally, performance-linked sums could be added to the acquisition price. Sycamore is reportedly likely to retain WBA's main U.S. retail business and sell or take public its other units.

The Recent Price Action of GOOG and WBA

In the last month, GOOG has sunk 16.5%, while it is flat in the last three months.

In the last month, WBA has advanced 11%, while it is up 23% in the last three months.

While we acknowledge the potential of GOOG, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GOOG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ ALSO 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

Disclosure: None. This article is originally published at Insider Monkey.