Waymo Pursues Over $15 Billion in Funding, Eyeing a Valuation of $110 Billion
Waymo LLC is reportedly negotiating a significant funding round that could elevate its valuation to an impressive $110 billion, expanding its financial muscle in the autonomous vehicle sector. Sources cited by CNBC indicate that the company aims to secure at least $15 billion, with Alphabet Inc., its parent company, expected to lead the investment. Additional participation from existing investors is likely, although specific names have not been disclosed.
Previously, Waymo raised $5.6 billion in 2024 from a consortium that included prominent backers such as Silver Lake, T. Rowe Price, and Fidelity. This new round of funding is anticipated to drive the expansion of Waymo’s autonomous ride-hailing services, which are operational in cities like San Francisco, Austin, Phoenix, Atlanta, and Los Angeles. The company plans to enter approximately twelve more U.S. cities in the upcoming year, alongside its first international venture in London.
Bloomberg has reported that Waymo’s annualized revenue run-rate recently exceeded $350 million, with vehicles successfully completing over 14 million trips in 2025. To accommodate its growth strategies, Waymo is set to manufacture a new fleet of autonomous taxis. In collaboration with Canadian auto parts manufacturer Magna International, the company is developing a new assembly facility in Arizona dedicated to producing self-driving versions of the Jaguar I-PACE electric SUV.
This Arizona plant will enhance its capacity, producing 2,000 autonomous vehicles by 2026, with future projections indicating the ability to scale up to tens of thousands annually. The facility utilizes innovative automation technologies to streamline manufacturing processes. Upon completion, these autonomous taxis will be capable of driving themselves to the nearest Waymo depot for recharging and maintenance, ready to begin passenger service within half an hour of leaving the production line.
Key Points:
– Waymo targets over $15 billion in funding.
– Alphabet Inc. likely to lead the investment.
– Expansion plans include new cities and international markets.
– New manufacturing facility in Arizona to produce tens of thousands of autonomous taxis.
– Enhanced sensor technology for improved reliability in various weather conditions.
