According to CNBC, Google's autonomous driving unit, Waymo announced a $2.5 billion investment round.

The latest round includes funding from Waymo-parent company Alphabet, Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management & Research Company, Magna International, Mubadala Investment Company, Perry Creek Capital, Silver Lake, funds and accounts advised by T. Rowe Price Associates, Temasek, and Tiger Global.

Waymo is an autonomous driving technology company that began as a division of Google. The Waymo Driver, the firm's autonomous driving technology involves hardware and software. On the hardware side, Waymo has a sensor suite that includes lidar, cameras, radar, and a powerful AI compute platform. Collectively, they provide a 360 degree view of the world. On the software side, Waymo takes all of the information the sensors collect, and works in concert to paint a complete picture of the world around the car.