Alphabet's autonomous driving unit, Waymo, is reportedly working to raise approximately $16 billion in a new funding round that would value the company at nearly $110 billion. This valuation is a significant increase from its October 2024 funding round, which valued the company at over $45 billion.
Parent company Alphabet is expected to be the lead investor, contributing about $13 billion to the new round. The remaining funds are anticipated to come from other investors, including Sequoia Capital, DST Global, and Dragoneer Investment Group. The capital is expected to fuel the expansion of Waymo's driverless ride-hailing services, which are currently active in several U.S. cities.