Alphabet Inc. (GOOG) (GOOGL) is reportedly preparing to open the wallet for its autonomous driving subsidiary in a big way. Waymo, the self-driving car unit spun out of Google's original autonomous vehicle project, is in discussions about a massive funding round that could value the company north of $100 billion.
A Funding Round That Means Business
According to reports from Reuters and The Information, Waymo is talking to potential investors about raising more than $10 billion in fresh capital. The financing is expected to be organized early next year, according to sources familiar with the discussions.
Bloomberg News went even bigger, reporting that Waymo might seek more than $15 billion at a valuation hovering around $100 billion. Alphabet is expected to lead the round, which makes sense given that Waymo is still very much a part of the Google parent company's broader ambitions.
Neither Alphabet nor Waymo immediately responded to requests for comment on the reported funding talks.
Leading the Pack in Driverless Technology
Waymo has been getting some serious praise from industry watchers. Last month, Ross Gerber, co-founder of investment firm Gerber Kawasaki, called Waymo "well ahead" of competitors in the robotaxi space, noting that the company continues to extend its lead each week.
What sets Waymo apart? Its robotaxis are already operating on highways without onboard safety drivers, a significant milestone in autonomous vehicle deployment. That's a meaningful advantage in a competitive landscape where most players are still relying on human oversight.
The competition is heating up, though. On Sunday, Tesla Inc. (TSLA) CEO Elon Musk announced that his company is testing robotaxis without safety monitors in the front passenger seat. Tesla currently has a market cap of $1.54 trillion, while Alphabet sits at roughly $3.7 trillion.
The Numbers Tell an Impressive Story
Last week, Waymo shared some eye-popping operational metrics. The company has been providing more than 1 million fully driverless rides per month since spring, and it's aiming to hit that volume on a weekly basis by the end of 2026.
The growth trajectory is remarkable. Waymo has completed 14 million trips so far in 2025, which represents more than triple last year's total. The company expects its lifetime ride count to exceed 20 million by year-end.
These aren't just test rides or limited pilot programs. We're talking about real commercial operations at scale, which is exactly what investors want to see before writing checks with lots of zeros.
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