Waymo in talks to raise over $15 billion at nearly $100 billion valuation

Waymo, Alphabet Inc.’s autonomous driving unit, is in discussions to raise more than $15 billion at a valuation near $100 billion, in a financing round led by its parent company.  The maker of robotaxis has discussed raising billions in equity from external backers as well as Alphabet, said the people, who asked not to be identified because the discussions are private.  Waymo and its would-be financial backers have weighed a valuation as high as $110 billion, though the amount raised and final value have yet to be determined, some of the people said.   The prior investment round, in October 2024, valued the company above $45 billion 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 and expand into new cities.  The company has achieved an annual revenue run rate above $350 million, two of the people said.  Waymo declined to comment.  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 competitor in the US.   The company is the only major operator running a service with no safety driver in the vehicle across multiple cities. Its rivals, like Elon Musk’s Tesla, continue to rely on human monitors during testing or early commercial pilots. Amazon.com Inc.’s Zoox has a purpose-built robotaxi with no driver controls at all, but offers limited rides to the public in Las Vegas and San Francisco, without charging a fare.  Waymo is one of Alphabet’s “other bets” — the division of high-risk projects managed by President Ruth Porat that have been facing pressure to become independent as part of an effort to run Alphabet with greater efficiency.   Alphabet has allowed Waymo to take outside capital, in part to insulate itself against any headwinds from the expensive autonomous driving business. The Information earlier reported Waymo’s plans to seek a valuation above $100 billion.