10:50 AM EDT, 10/25/2024 (MT Newswires) -- Alphabet's (GOOG, GOOGL) Waymo autonomous vehicle unit said Friday it has closed an oversubscribed $5.6 billion funding round.

Waymo said Alphabet led the investment round, which also received continued participation from Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global and T. Rowe Price.

"With this latest investment, we will continue to welcome more riders into our Waymo One ride-hailing service in San Francisco, Phoenix, and Los Angeles, and in Austin and Atlanta," via an expanded partnership with Uber ( UBER ) , Waymo co-chief executives Tekedra Mawakana and Dmitri Dolgov said in a blog post.

They said Waymo will continue advancing its artificial intelligence-powered autonomous driving system Waymo Driver to support various business applications.

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