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

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 comes as the company accelerates its commercial expansion within existing cities while pushing into new markets in the United States, Europe, and Japan. The loan will give the company financial flexibility to strengthen its balance sheet and position it to capitalize on the significant opportunities ahead, especially as a scaling business with proven commercial demand and improved road safety outcomes in the communities in which it operates. The loan includes lenders such as 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 has previously 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. 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. Waymo's spokesperson said the debt financing will allow the company to strengthen its balance sheet and position itself to capitalize on the significant opportunities ahead, especially as a scaling business with proven commercial demand and improved road safety outcomes in the communities in which it operates.

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