Waymo in Talks to Raise $15 Billion as Valuation Soars Toward $110B

• Waymo, the leading U.S. robotaxi provider under Alphabet Inc. (GOOGL), is in discussions to raise up to $15 billion in new funding at a potential $110 billion valuation to support fleet and market expansion.
• The company has achieved significant operational scale with 450,000 weekly paid rides, 14 million trips in 2025, and services across 26 markets, with paid operations in five U.S. cities and expansions planned for 2026 including London.
• Competitors lag in fully driverless deployment: Amazon’s (AMZN) Zoox offers limited free rides in select areas, while Tesla’s (TSLA) Robotaxi service still requires human supervision in its initial markets – though that may change soon.

Waymo, the autonomous driving subsidiary of Alphabet Inc. (GOOGL), has solidified its position as the frontrunner in the U.S. robotaxi industry through substantial operational growth and ambitious capital plans.

The company currently provides paid rider services in five major markets: Austin, the San Francisco Bay Area, Phoenix, Atlanta, and Los Angeles. It has either launched operations, initiated testing, or prepared for service in a total of 26 markets across the U.S. and internationally.

This leadership is evidenced by recent performance metrics, with Waymo delivering an estimated 450,000 weekly paid rides and completing 14 million trips throughout 2025, positioning it to surpass 20 million total trips since its commercial launch in 2020 by year-end.

Such scale reflects heavy investments in fleet expansion and geographic reach, supported by prior funding that included a $5.6 billion Series C round closed in October 2024 at a $45 billion valuation. That round featured participation from Alphabet alongside investors such as Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, and T. Rowe Price, alongside Alphabet’s multiyear commitment of $5 billion.

Looking ahead, Waymo is in discussions to secure up to $15 billion in new funding, potentially at a valuation reaching $110 billion, with contributions from both Alphabet and external investors. This capital would fuel further scaling amid intensifying sector dynamics.

Alphabet CEO Sundar Pichai has indicated that Waymo is expected to make a meaningful contribution to the parent’s financial performance starting in 2027, underscoring confidence in its trajectory toward profitability as ride volumes grow and technology matures.

Expansion plans include launching services in 2026 across additional U.S. cities such as Dallas, Denver, Detroit, Houston, Las Vegas, Miami, Nashville, Orlando, San Antonio, San Diego, and Washington, D.C., alongside an international debut in London.

In comparison, competitors have made progress but remain behind in fully driverless commercial deployment. Amazon.com Inc. (AMZN)’s Zoox unit initiated free driverless public rides in limited areas around the Las Vegas Strip and select San Francisco neighborhoods during 2025.

Tesla Inc. (TSLA) launched its Robotaxi service in Austin, Texas and the San Francisco Bay Area, though vehicles continued to operate with human drivers or safety supervisors through mid‑December 2025. More recently, Elon Musk announced that Tesla is testing fully driverless vehicles in Austin with no occupants on board. Even so, Waymo’s progress in autonomous mobility remains the benchmark for operational reliability and market penetration in this rapidly evolving field.

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