Sources with knowledge of the situation reveal that Waymo, the autonomous driving division of Alphabet, is gearing up to raise approximately $16 billion in a fresh funding round, pushing its valuation to nearly $110 billion post-funding. In this endeavor, the parent company, Alphabet, will contribute around $13 billion, while the remaining capital will be sourced from new investors. This funding round is anticipated to conclude by February 2026. Waymo's most recent funding round wrapped up in October 2024, when its valuation soared past the $45 billion mark. The company has expressed its commitment to bolstering safe operations and refining its technological edge, having already facilitated over 20 million autonomous driving trips. Presently, Waymo provides fully driverless ride-hailing services and collects fares in six U.S. cities, with ambitions to extend this service to additional U.S. cities this year and make its debut in the UK market. The autonomous driving ride-hailing sector is currently witnessing intense competition, with numerous players, including Tesla and Amazon's Zoox, vying for a foothold. Notably, Waymo had previously set its sights on raising over $15 billion, with a valuation goal exceeding $100 billion.