Waymo Secures $5B Debt Financing from Blackstone & PIMCO for Global Expansion
Alphabet’s autonomous ride-hailing unit, Waymo, has successfully completed its first-ever debt financing. The deal, a substantial $5 billion term loan, signifies a crucial shift in the company’s capital strategy. The goal? To accelerate the expansion of its robotaxi fleet across the United States and globally.
The financing was announced on October 8, 2026. It was spearheaded by financial powerhouses PIMCO, Blackstone, and Sixth Street Partners. Goldman Sachs took the role of the sole lead bookrunner. Other lenders included Capital Group, Loomis Sayles, T. Rowe Price, Apollo, Blue Owl, Franklin Templeton, Fidelity, HPS Investment Partners, and Oaktree.
This landmark transaction comes on the heels of a $16 billion equity raise earlier in 2026. This previous raise valued Waymo at a whopping $126 billion — more than double its $45 billion valuation from October 2024. Combined, these financial moves bring Waymo’s total capital raised to an estimated $26.5 billion. The company plans to use the new funds to scale commercial operations, expand into new U.S. cities, and venture into international markets including Europe and Japan.
Waymo’s CFO, Steve Fieler, described the loan as “an important step in our evolution into a scaling commercial enterprise,”. He highlighted that debt financing provides Waymo with increased financial flexibility. This comes without further diluting existing shareholders, including its parent company, Alphabet.
In the previous month, Waymo launched service in its 15th U.S. city. It also announced new international locations as its commercial operations continue to grow at a record pace.
Source: Sixth Street Partners – Waymo Closes $5 Billion Debt Financing (October 8, 2026)