The news
Waymo, the self-driving unit of Alphabet (GOOGL), has secured a $5 billion loan, TechCrunch reported on October 8, 2026. It is Waymo's first debt financing; until now the company relied on Alphabet and equity investors. Lenders include Blackstone, PIMCO, Sixth Street, Capital Group, Apollo, Blue Owl, Oaktree and others, with Goldman Sachs as lead bookrunner, according to TechCrunch.
Dealroom reported that the deal was upsized from an initial target of more than $3 billion and priced at 5.25 percentage points over the benchmark rate. It said the money will fund robotaxi expansion and rising AI and fleet costs. Waymo told TechCrunch the financing gives it financial flexibility to strengthen its balance sheet.
The loan follows a $16 billion equity raise in February 2026 at a $126 billion valuation, TechCrunch reported. Waymo operates in 15 markets, including Los Angeles, San Francisco, Austin and Miami, and is testing in London and Tokyo.
London is also drawing Uber (UBER). On October 8, TechCrunch reported that Uber and China's Pony.ai (PONY) plan to begin testing Pony.ai's Gen-7 robotaxis in London in the coming weeks. Pony.ai supplies the driving technology and Uber the ride-hailing network, following the model the pair used in Zagreb, Croatia, where a third-party operator, Verne, runs the fleet. The London operating partner has not been named.
Uber aims to offer autonomous rides in 15 cities worldwide by the end of 2026 and has deals with more than 30 autonomous vehicle companies, TechCrunch reported. In London, Uber has also partnered with and invested in British startup Wayve, which raised $1.2 billion in February 2026 with backing from Microsoft, Nvidia and Uber, and plans a robotaxi service there. Waymo, which is testing in the city, is the rival to watch.
The numbers
- Waymo loan
- $5 billion
- Initial target (Dealroom)
- More than $3 billion
- Pricing over benchmark (Dealroom)
- 5.25 percentage points
- Waymo February 2026 equity raise
- $16 billion at $126 billion valuation
- Waymo markets
- 15
Why CEOs should care
For fleet operators, cities and investors, debt is the signal. Lenders such as Blackstone and PIMCO price risk on predictable cash flows, so a $5 billion loan suggests they see robotaxi revenue as bankable. CFOs in transport, insurance and logistics should expect competitors that borrow cheaply to deploy vehicles faster, and should revisit plans that assumed autonomous fleets were years away.
For corporate travel and mobility buyers, more cities will offer driverless rides soon. Ask providers about liability, incident response and data handling before adding robotaxis to approved travel options. The London deal also adds a supply chain question: Uber is pairing with a Chinese technology supplier, which some boards and public-sector clients will want to understand.
Rules are tightening alongside the money. TechCrunch reported that California's SB 1246, signed by Governor Gavin Newsom, takes effect in July 2028 and will require local on-the-ground support, penalties if a robotaxi blocks emergency responders for more than 30 minutes, and remote drivers who are US-based and hold US licenses. Operators and their partners should budget for those staffing costs now.
The bigger picture
Robotaxis are moving from venture-funded pilots to capital-heavy rollouts that look more like infrastructure. Scrutiny is rising too: TechCrunch reported that the National Highway Traffic Safety Administration has opened inquiries into Waymo vehicles near school buses and after a robotaxi struck a child at 6 mph, causing minor injuries, and that the National Transportation Safety Board is investigating illegal school bus passing incidents.
What’s next
Watch for Waymo's next city launches, including the planned expansion into Europe and Japan, for the name of Uber and Pony.ai's London fleet operator, and for the California DMV's rules implementing SB 1246 before July 2028.
What “Fact-checked” means
Fact-checking means testing a story’s facts against the evidence before it is published. This story went through at least two separate checks before this version was published.
- What we checked
- Its names, figures, dates, job titles, quotes and who said what were checked against the story’s sources, including its main source where it could be opened. The headline was checked for accuracy and overstatement.
- How
- A first check reviewed the whole story. If it passed, a second, skeptical check went back to the sources to look for mistakes in the most important facts. If a check flagged the story, it was edited to fix the problems found, and a separate re-check then reviewed the whole story again.
- Who
- The checks are made by our newsroom, as steps kept separate from the writing, under rules set by our editor, Hussein Mukhtar. A story the checks still flag is held for the editor, who decides whether it is fixed, published or dropped.
- If something is wrong
- “Fact-checked” does not mean error-free. If a material error is found after publication, we correct the story and add a note saying what changed. Report an error
