Waymo has secured a $5 billion loan from Blackstone and PIMCO to support the expansion of its robotaxi business, according to a report by TechCrunch.
The transaction marks the first time Waymo, which is owned by Alphabet, has turned to debt financing. The move adds a new source of capital beyond the equity funding model that has underpinned the company’s development to date.
Debt financing can give a company access to substantial capital without issuing new ownership stakes. For autonomous-vehicle operators, the structure is particularly relevant as commercial expansion requires sustained investment over time.
The loan links two major asset managers with one of the most closely watched companies in autonomous driving. It also highlights the growing importance of financing structures in determining how quickly robotaxi operators can pursue expansion.