Waymo closed a $16 billion financing on February 2 that values the Google-affiliated robotaxi business at $126 billion, according to people familiar with the terms; a figure that puts the self-driving unit among the most valuable companies in the Alphabet orbit.
Dragoneer Investment Group, DST Global and Sequoia Capital led the round, which had been in the market for months as Waymo expanded its service footprint across additional US cities and began publishing safety data at a cadence regulators had long requested.
The Business Case
Waymo's commercial service has been the rare autonomous-driving program to scale beyond pilot status, and the company has argued that per-mile economics improve with every route added. Investors are effectively betting that the robotaxi market looks more like ride-hailing in 2015 than like the capital-intensive arms race of the past decade.
The raise also resets the funding leaderboard for 2026, a year that has already seen mega-rounds become the default for the companies building the physical layer of the AI economy.
