Waymo increased the size of its first-ever private debt deal from more than $3 billion to $5 billion, according to Bloomberg1,2. The upsized raise reflects the robotaxi operator's need to finance both rapidly rising AI costs and fleet expansion.
The debt raise is Waymo's inaugural foray into private credit markets, with the company tapping lenders to fuel growth.
ANALYSIS The decision to nearly double the deal size before closing suggests strong lender appetite for autonomous-vehicle debt, even as the capital intensity of AI-driven operations continues to climb.
Waymo's expansion push is already visible on the ground. The company began fully autonomous driving in Detroit on October 6, 2026, with rides initially limited to Waymo employees as it establishes a local safety framework[1].