Alphabet Inc.'s autonomous driving unit, Waymo, is reportedly seeking to raise more than $15 billion in a new funding round. Parent company Alphabet would lead the financing. This capital injection could value Waymo at nearly $100 billion.
The potential valuation marks a significant increase over its previous investment round. Waymo currently operates commercial ride-hailing services in several U.S. cities and is considered a leader in the autonomous vehicle industry.
Waymo expects the capital injection to fuel expansion efforts. These funds will specifically increase its fleet of robotaxis and support the launch of services in new cities.