Waymo, the autonomous vehicle company owned by Alphabet, announced on Monday that it has raised an impressive $16 billion in funding to support the growth of its robotaxi service. The company has plans to expand to 20 cities, with major cities like New York, Los Angeles, and Chicago already in the works.

This massive investment places Waymo at a valuation of over $100 billion, solidifying its position as a leader in the self-driving car industry. The company's robotaxi service has been gaining popularity and its fleet of autonomous vehicles has been steadily increasing.

With the additional funding, Waymo plans to ramp up its operations and increase its presence in key markets across the country. This expansion will not only benefit customers looking for a convenient and reliable transportation option, but also create job opportunities in the cities where Waymo operates.

The company's success and ambitious plans for the future have garnered attention and support from investors, who see the potential for Waymo to revolutionize the way people travel. As Waymo continues to innovate and grow, the future of transportation looks brighter than ever.