Waymo Secures $5B Loan From Blackstone, PIMCO to Expand Robotaxi Services

Waymo has secured a $5 billion loan from lenders including Blackstone, PIMCO, and Sixth Street to expand its autonomous ride-hailing operations. The financing marks the Alphabet-ownedcompany’ss first use of debt funding after years of relying on equity investments.

The loan comes as Waymo increases robotaxi availability across U.S. cities and prepares for international launches in London and Tokyo. The company currently operates commercial robotaxi services in 15 markets.

Waymo Secures First $5 Billion Debt Financing

In its financing announcement, Waymo named additional lenders, including Capital Group, Loomis Sayles, T. Rowe Price, Apollo, Blue Owl, Diameter Capital Partners, Franklin Templeton, Fidelity Management & Research Company, HPS Investment Partners, and Oaktree. Goldman Sachs served as the sole lead bookrunner.

Waymo described the loan as an important step toward operating as a larger commercial business. A company spokesperson said the financing would strengthen its balance sheet and provide flexibility as it increases service capacity.

The debt follows a $16 billion equity round in February 2026 that valued Waymo at $126 billion. Dragoneer Investment Group, DST Global, and Sequoia Capital led the investment, while Alphabet retained majority ownership.

Earlier funding included $5.6 billion in 2024, $2.5 billion in 2021 and $3.2 billion in 2020. Unlike those equity rounds, the new transaction provides borrowed capital rather than funding through the sale of ownership stakes.

Waymo Expands Robotaxi Operations Across 15 Markets

Waymo began as a self-driving research project within Google before expanding testing to Phoenix in 2016, which later became its first commercial robotaxi market. California regulators granted the company its final approval to charge for driverless rides in August 2023.

Its service now extends to California cities including San Francisco, Los Angeles and San Diego. Waymo has also entered Texas markets such as Austin, Dallas and Houston, alongside Miami, Orlando and Tampa in Florida.

International expansion is another priority. Waymo is testing autonomous vehicles in London and Tokyo ahead of planned commercial services, although the supplied announcement has not confirmed launch dates.

Safety Investigations Continue Alongside Growth

Waymo’s expansion has drawn increased regulatory scrutiny. The National Highway Traffic Safety Administration has investigated incidents in which robotaxis allegedly passed stopped school buses illegally, as well as a collision involving a child near an elementary school in Santa Monica.

The child sustained minor injuries after being struck by a Waymo vehicle traveling approximately 6 mph. The agency opened an investigation into the incident, while the National Transportation Safety Board separately began examining reports of Waymo vehicles passing stopped school buses in multiple states.

The NTSB confirmed its investigation in a public statement. These investigations remain important regulatory matters as Waymo deploys vehicles across additional cities.

The new loan gives Waymo another source of financing for its commercial growth, complementing the substantial equity capital raised earlier this year. The company has not disclosed a detailed allocation of the $5 billion or the loan’s repayment terms.