Uber has also agreed not to use Waymo's technology in its self-driving cars, though it maintains it never did.
Uber can not use any of Waymo's hardware or software trade secrets as one of the conditions of the settlement.
However, despite the settlement, Khosrowshahi said: "We do not believe that any trade secrets made their way from Waymo to Uber, nor do we believe that Uber has used any of Waymo's proprietary information in its self-driving technology".
Alphabet's Waymo division was seeking at least $1 billion (roughly Rs. 6,400 crores) over the theft of secrets from its self-driving vehicle program in the trial before federal judge William Alsup.
Uber ATG is the company's "advanced technology group", an engineering team working on self-driving technologies, mapping, and vehicle safety.
In a case that has riveted Silicon Valley the saga began when Otto, a self-driving truck company co-founded by former Google employee Anthony Levandowski, was acquired by Uber for $650m in 2016.
According to Reuters, Waymo is to receive a 0.34 per cent equity stake in Uber - equivalent to $245 million - after the Uber board had rejected the terms of a $500 million settlement earlier in the week.
Levandowski was the engineer who built Google's first self-driving auto. Kalanick said, "I don't know, I don't remember".
The jury was shown internal emails referencing demands Kalanick was said to have made.
He added, "To our friends at Alphabet: we are partners, you are an important investor in Uber, and we share a deep belief in the power of technology to change people's lives for the better".
Waymo also said Uber had infringed three patents relating to its LiDAR technology: USA numbers 8,836,922; 9,368,936; and 9,086,273.
LiDar sensors, featured on self-driving vehicles, use laser beams to determine the position and proximity of objects, including people and other vehicles.
Khosrowshahi expressed his regret over how the issue had been handled by Uber when it first emerged and admitted that the acquisition of Otto could also have been handled differently.
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