Waymo, the autonomous vehicle subsidiary of Alphabet, announced it has raised $16 billion in new funding to expand its driverless ride-hailing service and scale its autonomous vehicle fleet. The company said the capital will be used to increase the number of vehicles in service, enter additional markets, and continue development of its self-driving technology. Alphabet remains Waymo’s majority owner. Waymo currently operates fully autonomous ride-hailing services in several U.S. cities, including Phoenix, San Francisco, Los Angeles, and Austin. Riders in those markets can book trips without a human driver present in the vehicle. The company completes hundreds of thousands of

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