Alphabet's self-driving subsidiary Waymo plans to raise about $16 billion in a new round of financing, which will value the subsidiary at nearly $110 billion, according to people familiar with the matter. People familiar with the matter said that the parent company will inject approximately US$13 billion into the self-driving travel company, with the remaining funds coming from new investors such as Sequoia Capital, Digital Sky Technology Group, and Longyue Capital.
People familiar with the matter also said that Waymo is expected to complete this round of financing in February 2026. The company's last round of financing was completed in October 2024, led by Alphabet, which owns Google. At that time, its valuation exceeded US$45 billion.
Waymo said in a statement: "Although we do not comment on non-public financial matters, the company's development direction is very clear: We have completed more than 20 million self-driving travel services and are focusing on building excellent operational capabilities and technological leadership with safety as the core to meet the huge market demand for self-driving travel."
Currently, Waymo has launched fully driverless online ride-hailing services without human safety personnel in six cities in the United States and collects fees from passengers. The business covers the San Francisco Bay Area and Los Angeles, and it also provides travel services through the Uber Technology app in Austin and Atlanta. This company plans to significantly expand this business service this year, landing in more cities in the United States, and entering the British market.
Currently, many companies are vying to enter the driverless online ride-hailing market. Tesla is also planning to launch its own self-driving travel service, and has currently launched limited self-driving operations without safety officers in Austin; Zokes, a subsidiary of Amazon, has built a customized self-driving car without a driving control system, which has been put into operation on the Las Vegas Strip and is being tested in other cities around San Francisco.
It was reported in December 2025 that Waymo planned to raise more than US$15 billion at the time, with a valuation of more than US$100 billion.