Alphabet's Waymo raises $16B at $126B valuation as robotaxi expansion accelerates

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Alphabet's self-driving car unit Waymo has raised a $16 billion funding round that values the company at $126 billion post-money, more than doubling its previous valuation. The raise underscores investor focus shifting from self-driving research to commercial scale, with Waymo now operating paid robotaxi services in multiple cities and planning further expansion. The fresh capital will enable Waymo to accelerate its market rollout while maintaining safety standards.

Why it matters

Waymo's $126 billion valuation highlights the growing importance of autonomous driving technology and the high stakes involved as companies race to commercialize self-driving vehicles. The funding round signals that investors see Waymo as a leader in the field, with the company already operating paid robotaxi services at scale and planning rapid expansion into new markets.

The details

The $16 billion funding round was led by Alphabet and included both returning and new investors. Waymo says the capital will allow it to further scale its commercial robotaxi operations, which already span Austin, the San Francisco Bay Area, Phoenix, Atlanta, Los Angeles, and Miami. In 2025 alone, Waymo delivered 15 million trips. Next year, the company plans to launch in 10 additional major U.S. cities as well as London, its first international market. However, Waymo's rapid expansion has not been without challenges, including a software recall after vehicles illegally passed stopped school buses and an incident where a Waymo vehicle struck a child.

• Waymo raised $5.6 billion at a $45 billion valuation in October 2024.
• Waymo delivered 15 million trips in 2025.
• Waymo plans to launch in 10 additional U.S. cities and London in 2026.

What they’re saying

What’s next

Waymo plans to launch its robotaxi services in 10 additional U.S. cities and London in 2026, further expanding its commercial operations.