Waymo, Alphabet's autonomous driving unit, is seeking approximately $1.6 billion in a new financing round that could value the company at nearly $110 billion, according to sources familiar with the matter. The funding round, potentially closing in February, would see Alphabet contributing around $1.3 billion, with the remaining funds coming from outside investors, including Sequoia Capital, DST Global, Dragoneer Investment Group, and Mubadala Capital, according to Fortune.
This new valuation marks a significant increase from Waymo's previous investment round in October 2024, which valued the company at over $45 billion, led by Alphabet. The company declined to comment on the private financing discussions, according to Fortune.
In other news, Tether CEO Paolo Ardoino is reportedly engaging in a media campaign to rebrand Tether and promote its new USAT stablecoin, according to multiple news sources including Fortune, Bloomberg, Reuters, and TechCrunch. This push coincides with increased competition in the stablecoin market from established financial institutions like Fidelity and JPMorgan Chase. The USAT stablecoin is designed to compete with Circle's USDC and represents a move towards increased collaboration with U.S. regulators and law enforcement, signaling a shift towards mainstream acceptance. Tether's reserves are currently managed by Cantor Fitzgerald, whose former CEO now serves as Commerce Secretary.
Meanwhile, an investment firm linked to the United Arab Emirates acquired a 49% stake in the Trump family's cryptocurrency company, World Liberty Financial, shortly before President Trump's inauguration, according to multiple news sources including the NY Times. The $500 million investment, which included board seats for UAE officials, has raised ethical concerns regarding potential conflicts of interest arising from the Trump family's business partnership with the UAE while negotiating foreign policy.
In the UK, Fred and Peter Done, founders of Betfred, topped the list of the UK's 100 biggest taxpayers, paying an estimated £400.1 million, according to multiple news sources including BBC Business. The list also included celebrities like Harry Styles, Anthony Joshua, and JK Rowling. The total tax paid by the top 100 increased to £5.758 billion, potentially due to rises in corporation tax and dividend tax rates.
Finally, companies are increasingly using AI as a justification for layoffs that may stem from other financial issues, a practice known as "AI-washing," according to multiple news sources reported by TechCrunch.
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