Waymo, the autonomous driving company owned by Alphabet, has secured $5 billion in debt financing to expand its driverless taxi services across the United States and international markets. The company announced on October 8, 2026 that the loan marks its first debt financing, following a $16 billion equity investment earlier this year.
The financing was led by PIMCO, Blackstone, and Sixth Street, with Capital Group, Loomis Sayles, and T. Rowe Price participating as major lenders. Other participants included Apollo, Blue Owl, Diameter Capital Partners, Franklin Templeton, Fidelity Management & Research Company, HPS Investment Partners, and Oaktree, while Goldman Sachs served as the sole lead bookrunner.
Waymo Expands Financing Beyond Equity Investments
Waymo previously relied on funding from Alphabet and external investors to develop its autonomous driving technology and commercial operations. In February 2026, the company raised $16 billion at a $126 billion valuation, in a round led by Dragoneer Investment Group, DST Global, and Sequoia Capital.
Alphabet retained its majority ownership following that investment, which came after previous funding rounds of $5.6 billion in 2024, $2.5 billion in 2021, and $3.2 billion in 2020.
Waymo said the new loan would strengthen its balance sheet and provide additional financial flexibility as it expands commercial operations. The company described the financing as an important step in its development into a larger commercial business.
Robotaxi Services Now Operate in 15 U.S. Markets
Waymo began as a self-driving research project within Google before expanding testing to Phoenix in 2016, which later became its first commercial robotaxi market. In August 2023, it received final regulatory approval to operate paid driverless rides in California.
The company now operates commercial robotaxi services across 15 U.S. markets, including San Francisco, Los Angeles, San Diego, Austin, Dallas, Houston, Miami, Orlando, and Tampa. It is also testing autonomous vehicles in London and Tokyo ahead of planned commercial launches.
Waymo Faces Federal Safety Investigations
Waymo’s expansion has also attracted scrutiny from federal transportation regulators following incidents involving its autonomous vehicles. The National Highway Traffic Safety Administration (NHTSA) opened investigations into robotaxis allegedly passing stopped school buses illegally and a separate incident involving a child near an elementary school.
In January 2026, a Waymo robotaxi struck a child near a school in Santa Monica, California, at approximately six miles per hour, causing minor injuries.
The National Transportation Safety Board also opened an investigation after multiple reports of Waymo vehicles illegally passing stopped school buses in at least two states. The investigations concern how Waymo’s autonomous driving systems respond to school buses, pedestrians, and other road safety conditions.
Featured image credits: Wikimedia Commons
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