Waymo secures $5 billion loan to expand robotaxi fleets
Waymo, Alphabet's self-driving car arm, just scored a $5 billion loan, its first-ever, from big names like PIMCO and Blackstone.
The cash is all about helping Waymo ramp up its robotaxi fleets in the US Europe, and Japan.
Goldman Sachs, which led the deal, called it an "important step" for turning Waymo into a major commercial player.
Waymo growing amid school bus probe
Waymo already runs in 15 markets (think San Diego and Dallas) and is testing rides in London and Tokyo.
But as it pushes into new markets with backing from lenders like Capital Group and Fidelity Management & Research Company, Waymo faces some bumps: US safety regulators are investigating its tech after incidents with school busses.
Even so, the company says it's focused on growing safely while rolling out more self-driving rides.