Waymo, the autonomous vehicle division of Alphabet, has secured $5 billion in its first private debt financing round. The company initially planned to raise over $3 billion, but increased the total due to high lender demand. Goldman Sachs organized the deal, with participation from major private credit firms including PIMCO, Blackstone, and Sixth Street Partners.
The capital is intended to support fleet expansion and cover increasing costs related to AI and computing infrastructure. Unlike previous funding rounds, such as the $16 billion equity round in February 2026 that valued the company at $126 billion, this debt financing allows Waymo to raise funds without diluting existing equity stakes.
The loan is unrated, meaning lenders assessed the company's repayment capacity independently. Waymo is currently facilitating over 500,000 paid rides weekly across 14 to 15 US cities. The company aims to reach 1 million weekly rides in 20 cities globally by the end of 2026.
Waymo is preparing for international expansion, with testing and groundwork underway in London, Tokyo, and Munich. The company targets launches in these cities between 2026 and 2027, with Munich expected to be its first market in the European Union by late 2027.
