If you’ve ever wondered when self-driving cars will actually matter to your daily commute, Waymo just gave a clue: the Alphabet-backed robotaxi company is closing in on a $16 billion funding round that would value it at $110 billion. That is more than double the $45 billion valuation it had after a $5.6 billion raise in 2024.

Most of the money, over three-fourths, is expected to come from Waymo’s parent company, Alphabet, where it began as part of the X “moonshot factory.” New investors including Dragoneer, Sequoia Capital, and DST Global are joining in, while existing backers Andreessen Horowitz and Abu Dhabi’s Mubadala fund are also participating.

Waymo’s growth is fast and public. The company recently launched service in Miami and has completed over 20 million trips, generating more than $350 million in annual recurring revenue. That kind of scale matters because it signals how soon robotaxis could start shaping traffic, ride costs, and urban mobility choices in cities you live or work in.

Expansion has not been without hiccups. During a San Francisco blackout, several Waymo robotaxis stalled at traffic lights, highlighting the tech’s vulnerability even as it aims to replace human drivers.

The company insists its focus is on “safety-led operational excellence and technological leadership,” but the big question for everyday riders is whether these self-driving cars will save time, cut costs, or simply be a flashy addition to city streets.

With Alphabet and top venture investors doubling down, Waymo’s robotaxis are moving closer to mainstream streets, and with a $16 billion boost, the ride of the future is closer than many expect.

This is not just tech news. It could affect how you get to work, how cities manage traffic, and which rides stay expensive or free for the taking.