Dmitri Dolgov and Tekedra Mawakana, the co-CEOs of Alphabet’s self-driving arm, also say they’ll consider making acquisitions. (Bloomberg)

Talking point: Though it’s a subsidiary of a company with more than US$130 billion in cash on hand, fundraising lets Waymo forge partnerships along with bringing in capital. Its first external funding round—a US$2.25-billion Series A—in March 2020, later extended to US$3.2 billion—was led by Canada Pension Plan Investment Board, Silver Lake and Mubadala Investment company, with additional investors including Magna and Andreessen Horowitz. At the time of the announcement, CPP Investments’ managing director and head of direct private equity Ryan Selwood said the organization “is focused on identifying and investing in long-horizon growth opportunities across the globe” and called Waymo “the clear leader” in autonomous vehicle technology.