Waymo, the autonomous vehicle company under Alphabet, announced a landmark $16 billion fundraising round, valuing the startup at $126 billion. This figure marks a near tripling of its value since its last external financing round in 2024, which pegged its worth at $45 billion.
The investment was led by Dragoneer Investment Group, DST Global, and Sequoia Capital, with participation from other notable firms including Mubadala Capital, Andreessen Horowitz, and T. Rowe Price.
As a leader in one of artificial intelligence’s most competitive fields, Waymo is aggressively scaling its commercial robotaxi operations. The company, which originated from Google’s self-driving project in 2016, is currently the only U.S. operator providing fully driverless, paid passenger services without safety attendants in the vehicle.
Waymo reported significant growth in 2025, tripling its total ride volume to 15 million. The service now provides approximately 400,000 weekly rides across six major U.S. metropolitan areas.
Despite its dominant position, the competitive landscape is intensifying. Tesla, under Elon Musk, has prioritized robotaxis as a core initiative, shifting focus from its electric vehicle business. Meanwhile, Amazon’s Zoox unit has begun offering complimentary autonomous rides in designated areas of Las Vegas and San Francisco.
The expansion occurs amid ongoing public safety considerations. The National Highway Traffic Safety Administration recently opened an investigation into an incident where a Waymo vehicle struck a child near a California elementary school, highlighting the persistent scrutiny facing the industry even as it accelerates.
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