Waymo locks in $5B loan from Blackstone, PIMCO to fuel robotaxi expansion

What happened: Waymo closed a $5 billion loan from lenders including PIMCO, Blackstone, and Sixth Street. It is Waymo's first debt financing and will fund robotaxi expansion in the US, Europe, and Japan. Key numbers: $5 billion loan. February equity round: $16 billion raised, $126 billion valuation. Why it matters: Waymo said the debt gives it flexibility to strengthen its balance sheet as it scales commercially. Until now it relied on parent Alphabet and outside investors. It is testing in London and Tokyo and plans launches there. Market: +0.9% by next close ($347.86 on Oct 9), +9.1% YTD

Waymo closed a $5 billion loan from lenders including PIMCO, Blackstone, and Sixth Street. It is Waymo's first debt financing and will fund robotaxi expansion in the US, Europe, and Japan.

Waymo said the debt gives it flexibility to strengthen its balance sheet as it scales commercially. Until now it relied on parent Alphabet and outside investors. It is testing in London and Tokyo and plans launches there. Market: +0.9% by next close ($347.86 on Oct 9), +9.1% YTD