Self-driving car company Waymo is in talks to raise $15 billion in funding in the new year.
The robotaxi company plans to raise billions from Alphabet , its parent company, as well as outside investors at a valuation as high as $110 billion, according to a person familiar with the discussions.
The latest funding discussions are indicative of Waymo's status as the leader of the pack in the U.S. robotaxi market. The company has been spending heavily to ramp up its fleet and continue expanding to more regions. Waymo is now either operating its robotaxis, planning to launch service or starting to test its vehicles in 26 markets, in the U.S. and abroad.
Alphabet CEO Sundar Pichai said Waymo will "meaningfully" contribute to Alphabet's financials as soon as 2027, CNBC reported Tuesday.