This article first appeared on GuruFocus.
Alphabet Inc. (GOOGL, Financials) is stepping in to assist Waymo get a big new round of investment. The self-driving car company is said to be aiming to raise more than $15 billion. If the acquisition goes through, Waymo’s value would be close to $100 billion, which is one of the biggest in the new robotaxi market.People who know about the negotiations said that the new money is meant to help Waymo keep rolling out autonomous ride services, which have been growing into additional U.S. cities over the last year. The business has been getting bigger fleets, better technology, and collaborating with local governments to make sure that safety and operating standards are followed.Alphabet’s action shows that they still believe in the long-term future of self-driving cars, even while other companies like Tesla, Uber, and Lyft are still working on their own driver-assistance and ride-hailing plans. Waymo has made success recently, which implies that there is a growing demand for services that don’t need a driver. More money might help speed up that move.Investors will be looking to see whether Waymo can close the transaction and utilize the extra money to accelerate up its ambitions to grow in 2026.
