Overview
- Reports say Waymo is in final-stage talks to raise more than $3 billion from private-credit firms including PIMCO, Blackstone and Sixth Street with Goldman Sachs advising the transaction.
- The proposed financing would be unrated private credit and is reported to carry pricing above 500 basis points over benchmark, reflecting a higher cost for speed and limited public disclosure.
- Waymo has expanded paid robotaxi services to 14 U.S. cities with over 4,000 vehicles and roughly 500,000 paid rides per week and is targeting 1 million weekly rides by year-end, which the loan is intended to help finance.
- The move marks a shift from the company’s recent equity-heavy funding approach after a $16 billion round in February and increases pressure to improve unit economics while running negative EBITDA.
- If completed, the deal signals private-credit investors’ willingness to back Waymo’s growth but raises the risk that high interest costs and repayment terms could tighten the runway for achieving profitability.