Waymo is gearing up for a major capital raise, with Alphabet’s self-driving subsidiary reportedly seeking more than $15 billion in new funding at a valuation approaching $100 billion, which if completed, would represent a dramatic step up from Waymo’s previous funding round.
According to a report from The Information, the new financing is expected to be led by Alphabet, with participation from outside investors. Discussions remain private, but the round could ultimately value Waymo as high as $110 billion—more than double its October 2024 valuation of $45 billion. That earlier Series C round totaled $5.6 billion and included a multiyear $5 billion commitment from Alphabet, alongside well-known backers.
The scale of the proposed raise highlights just how quickly the commercial race for fully autonomous ride-hailing is accelerating. Waymo is currently the only company in the U.S. offering paid robotaxi rides with no safety drivers or in-vehicle attendants. Its fleet of roughly 2,500 vehicles operates across major markets including Phoenix, the San Francisco Bay Area, Los Angeles, Austin, and Atlanta.
Usage has also ramped sharply. Waymo recently surpassed an estimated 450,000 paid rides per week and says it delivered 14 million trips in 2025 alone, putting it on track to exceed 20 million total rides since launching commercial service in 2020. Recently released data shows the company has logged 127 million fully driverless miles, including tens of millions in Phoenix and San Francisco.
Expansion is a major driver behind the latest fundraising push. Waymo plans to launch service in more than a dozen new U.S. cities in 2026, including Dallas, Denver, Detroit, Houston, Las Vegas, Miami, San Diego, and Washington, D.C. Internationally, the company is preparing for its first overseas robotaxi deployment in London, targeted for 2026, while also training vehicles in Tokyo.
