Alphabet Inc (NASDAQ:GOOG)’s autonomous driving unit Waymo is in talks to raise more than $15 billion in a new funding round that could value the business at around $100 billion, according to a report by The Information, citing people familiar with the discussions.
The proposed financing would mark a significant step up from Waymo’s previous valuation of more than $45 billion in October 2024, when Alphabet led a roughly $5.6 billion funding round.
Sources told The Information that current talks have explored valuations as high as $110 billion, though terms are not final and could still change.
Alphabet is expected to lead the round again, with potential participation from external investors.
Once viewed as one of Alphabet’s most ambitious and costly long-term bets, Waymo has recently begun to show clearer signs of commercial traction. The company has built an annual revenue run rate exceeding $350 million, driven largely by the expansion of its robotaxi operations. That progress has strengthened Waymo’s position as it seeks capital to support the next phase of growth.
According to The Information, the new capital would be used to expand Waymo’s robotaxi fleet, scale operations across additional US cities, and pursue selective international expansion.
Waymo currently operates robotaxi services in 26 markets in the US and internationally. It is widely regarded as a leading player in the autonomous vehicle sector, ahead of rivals such as Tesla Inc (NASDAQ:TSLA) and Amazon.com Inc (NASDAQ:AMZN)-backed Zoox.