Waymo locks in $5B loan from Blackstone, PIMCO to fuel robotaxi expansion

This is the first time the Alphabet-owned company has turned to debt financing. Waymo, the autonomous vehicle technology company under Google parent Alphabet, closed a $5 billion loan from a series of high-profile lenders, including PIMCO, Blackstone, and Sixth Street. The debt financing — Waymo’s first — comes as the company accelerates its commercial expansion within existing cities while pushing into new markets in the United States, Europe, and Japan. Waymo described the debt financing as an important step in its evolution into a “scaling commercial enterprise.” Other lenders in the $5 billion loan include Capital Group, Loomis Sayles, T. Rowe Price, Apollo, Blue Owl, Diameter Capital Partners, Franklin Templeton, Fidelity Management & Research Company, HPS Investment Partners, and Oaktree, Waymo said on Thursday.

Goldman Sachs served as the sole lead bookrunner. Until now, Waymo has relied on capital from its parent company and outside investors. In February, Waymo raised $16 billion in equity from investors that pushed its valuation to $126 billion. Dragoneer Investment Group, DST Global, and Sequoia Capital led the funding round. Alphabet, which supported the round, has maintained its position as majority investor. The company raised $5.6 billion in a Series C funding round in 2024, $2.5 billion in 2021, and $3.2 billion in 2020. A Waymo spokesperson said in an email that the debt financing