Waymo has secured $5 billion in debt financing from a group of institutional lenders as the Alphabet-owned autonomous driving company expands its robotaxi operations in the United States and prepares to enter additional international markets.
The financing marks Waymo’s first debt transaction. The company said the funding would support its development as it increases commercial operations across existing markets and prepares for expansion into Europe and Japan.
Institutional Lenders Provide $5 Billion Financing
The lenders include PIMCO, Blackstone, Sixth Street, 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 acted as the sole lead bookrunner for the transaction.
Waymo described the financing as an important step in its development into a “scaling commercial enterprise,” as it seeks to expand its robotaxi service across additional cities.
Waymo Previously Raised $16 Billion in Equity
Before securing the debt financing, Waymo relied on funding from Alphabet and external investors to support its development and commercial expansion.
In February 2026, the company raised $16 billion in equity at a reported valuation of $126 billion. Dragoneer Investment Group, DST Global and Sequoia Capital led the round, while Alphabet participated and remained the company’s majority investor.
Waymo previously raised $5.6 billion in a Series C round in 2024, following funding rounds of $2.5 billion in 2021 and $3.2 billion in 2020.
The latest financing adds debt to the capital sources available to the company as it develops its autonomous driving technology and expands its service network.
Robotaxi Operations Expand Across the United States
Waymo began as a self-driving vehicle project within Google and spent years testing autonomous driving technology on public roads in Silicon Valley and the wider San Francisco Bay Area.
The company expanded to Phoenix in 2016, which later became its first commercial robotaxi market.
In August 2023, Waymo received the final permits needed to operate a paid robotaxi service in California. It has since expanded into several other US markets, including Los Angeles, San Francisco, San Diego, Austin, Dallas, Houston, Miami, Orlando and Tampa.
According to the company information provided, Waymo now operates robotaxi services in 15 markets.
International Expansion Targets London and Tokyo
Waymo is also preparing to expand beyond the United States. The company is testing its autonomous vehicles in London and Tokyo and plans to launch services in both cities.
International expansion would extend Waymo’s operations into new regulatory environments and driving conditions as it develops its commercial robotaxi business.
The $5 billion debt financing provides an additional source of capital as Waymo continues to expand its operations and prepare for further market launches.
