Waymo Raises $16 Billion to Expand Autonomous Vehicle Reach

Alphabet's self-driving car unit plans to launch in 20 new U.S. cities and internationally by 2026.

Published on Feb. 9, 2026

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Waymo, the autonomous vehicle subsidiary of Alphabet, has raised $16 billion in its latest funding round, bringing its valuation to $126 billion. The company plans to use the new capital to expand its self-driving car operations to 20 additional U.S. cities and launch internationally in locations like Tokyo and London by 2026.

Why it matters

Waymo's expansion plans highlight the growing commercial viability of autonomous vehicle technology, which is expected to be a $2 trillion market by 2030. As Alphabet builds out its AI capabilities across self-driving cars, cloud services, and its Gemini chatbot, the company is positioning itself as a leader in the rapidly evolving artificial intelligence landscape.

The details

The $16 billion funding round was led by about 10 investors, including Alphabet itself. Waymo says it is no longer just proving a concept, but is now ready to scale its commercial self-driving operations. The company completed 15 million rides in 2025, more than triple the previous year's total.

  • Waymo raised $16 billion in its latest funding round in February 2026.
  • Waymo plans to expand to 20 new U.S. cities and launch internationally in locations like Tokyo and London by 2026.

The players

Waymo

Alphabet's autonomous driving company and a subsidiary of Alphabet Inc., Google's parent company.

Tekedra Mawakana and Dmitri Dolgov

Waymo's co-CEOs.

Alphabet

The parent company of Google and Waymo, building a portfolio of AI opportunities including self-driving cars, cloud services, and its Gemini chatbot.

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What they’re saying

“We are no longer proving a concept; we are scaling a commercial reality, laying the groundwork for ride-hailing operations in over 20 additional cities in 2026, including Tokyo and London.”

— Tekedra Mawakana and Dmitri Dolgov, Waymo co-CEOs (Waymo blog post)

What’s next

Waymo plans to use the new $16 billion in funding to expand its autonomous vehicle operations to 20 new U.S. cities and launch internationally in locations like Tokyo and London by 2026.

The takeaway

Waymo's $16 billion funding round and expansion plans demonstrate the growing commercial viability of autonomous vehicle technology, which is a key part of Alphabet's broader artificial intelligence strategy. As Waymo scales and Alphabet builds out its AI capabilities across other areas, the company is positioning itself as a leader in the rapidly evolving AI landscape.