NEW YORK: Waymo, Alphabet Inc’s autonomous driving unit, is in discussions to raise funding at a valuation near US$100bil, in a round led by its parent company.
The maker of robotaxis has discussed raising billions in equity from external backers as well as Alphabet.
Waymo and its would-be financial backers have weighed a valuation as high as US$110bil, though the amount raised and final value have yet to be determined.
The prior investment round, in October 2024, valued the company above US$45bil and was led by its parent, Alphabet, which also owns Google.
The valuation increase underscores Waymo’s emergence as a leader in driverless technology, with the company spending heavily to ramp up its fleet.
Waymo is the frontrunner in a race against Tesla Inc and others to turn autonomous ride-hailing into a business, with more fully driverless miles, paying customers and permitted operating zones than any US competitor. — Bloomberg
