Waymo, Alphabet's self-driving unit, has been valued at over $45 billion following its latest financing round.
The investment round, led by Alphabet, raised $5.6 billion and will support the expansion of Waymo One, a ride-hailing service operating in multiple cities.
Waymo is currently delivering over 100,000 paid trips per week through its robotaxi services.
Taking outside capital may help Waymo insulate itself from regulatory pressures and potential competition in the autonomous ride-hailing industry.