Waymo secures $5 billion loan to expand robotaxi services

Waymo, the autonomous driving subsidiary of Alphabet, has secured a $5 billion term loan to accelerate the expansion of its robotaxi services. This marks the company’s first major foray into debt financing, a strategic shift from its previous reliance on equity investments. The financing round was led by PIMCO, Blackstone, and Sixth Street, with Goldman Sachs serving as the sole lead bookrunner. The loan size was reportedly expanded from an initial $3 billion target due to high institutional demand.

The capital is intended to fuel the deployment of Waymo’s fully autonomous ride-hailing fleet across both United States and international markets. Waymo currently operates in 15 U.S. metropolitan areas, including San Francisco, Los Angeles, and Phoenix. The company has previously targeted a milestone of 1 million weekly autonomous rides by the end of 2026.

In a related move toward international expansion, Waymo has announced a strategic collaboration with Allianz Partners. This partnership aims to develop an integrated ecosystem for insurance, claims, and safety research in Europe, with phased commercial deployment planned to begin in Germany.