Blackstone Joins $3B Waymo Debt Financing Deal

Blackstone Inc. is negotiating to participate in a debt financing package targeting more than $3 billion for Alphabet-owned autonomous vehicle unit Waymo, according to a Bloomberg report published on 3 September 2026. The lender group also includes Pacific Investment Management Co. and Sixth Street Partners.

Goldman Sachs Group Inc. is partnering with Waymo on the transaction, which marks the robotaxi developer's first-ever debt deal. Lenders would receive a spread of more than 500 basis points above the benchmark rate on the unrated debt. Representatives for Blackstone, Waymo, Goldman Sachs, Pimco, and Sixth Street all declined to comment.

Waymo has historically funded its operations through equity, including raising $16 billion earlier this year at a $126 billion valuation. The company is seeking debt to expand its driverless vehicle fleet as artificial intelligence expenses rise, similar to Uber's move to secure a $1.15 billion leveraged loan in 2016 before its initial public offering.

Waymo currently provides over 500,000 paid rides each week across 14 American cities. The business plans to reach 1 million weekly rides across 20 cities globally by the end of this year, while preparing expansions into London, Tokyo, and a planned launch in Munich by the end of 2027.