Alphabet's Waymo secures $5B loan to expand robotaxis

Waymo, the autonomous vehicle technology business owned by Google parent Alphabet, closed a $5 billion loan from a syndicate of major lenders on October 8, 2026. The deal marks the company's first debt financing. Lenders in the transaction include PIMCO, Blackstone, Sixth Street, 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 acted as sole lead bookrunner.

The fresh funds will support Waymo's commercial expansion in its existing service areas and into new markets across the United States, Europe, and Japan. A Waymo spokesperson stated by email that the debt financing provides financial flexibility to strengthen its balance sheet and capitalize on commercial opportunities. The company operates in 15 markets, including Los Angeles, San Francisco, San Diego, Austin, Dallas, Houston, Miami, Orlando, Tampa, and Phoenix, which was its initial robotaxi market in 2016. In August 2023, the unit secured its final California permit to charge for rides, and it is currently conducting tests in London and Tokyo.

Before this debt facility, Waymo relied on equity rounds and backing from Alphabet, which remains its majority investor. In February, Waymo raised $16 billion in an equity round led by Dragoneer Investment Group, DST Global, and Sequoia Capital, lifting its valuation to $126 billion. The company previously raised $5.6 billion in a Series C round in 2024, $2.5 billion in 2021, and $3.2 billion in 2020.

Waymo's growth has also drawn regulatory scrutiny. The National Highway Traffic Safety Administration opened an investigation into robotaxis behaving illegally around school buses, as well as an inquiry after a vehicle traveling at about 6 mph struck a child who sustained minor injuries. Earlier this year, the National Transportation Safety Board also launched an investigation into incidents where robotaxis illegally passed stopped school buses across at least two states.