Robotaxi money: Waymo borrows $5B as Uber and Pony.ai head for London

Robotaxis are turning into a big-money business. This week Waymo took on debt for the first time, and Uber and China's Pony.ai picked London as their next target. Here is what was announced and what wasn't said.

Waymo closes a $5 billion loan

According to TechCrunch, Waymo has closed a $5 billion loan, its first debt financing.

• Who lent: PIMCO, Blackstone and Sixth Street are among the lenders. Capital Group, T. Rowe Price, Apollo, Blue Owl, Fidelity, Oaktree and several others also took part. Goldman Sachs arranged the deal.
• Why, per Waymo: a spokesperson said the loan gives the company financial flexibility to strengthen its balance sheet and keep growing.
• Where it operates: Waymo says it runs robotaxi service in 15 markets, including Los Angeles, San Francisco, San Diego, Phoenix, Austin, Dallas, Houston, Miami, Orlando and Tampa. It is testing in London and Tokyo and plans to launch in both.
• Not disclosed: the interest rate, the loan's length, fleet size, ride numbers and revenue.

Why a loan matters: in February Waymo raised $16 billion in equity at a $126 billion valuation, TechCrunch reports, and Alphabet remains the majority owner. In general, borrowing rather than selling more shares means existing owners don't see their stakes diluted.

The safety backdrop: TechCrunch also notes US regulators are investigating Waymo robotaxis that passed stopped school buses, and a separate incident in which a robotaxi hit a child near a school at about six miles per hour, causing minor injuries.

Uber and Pony.ai pick London

TechCrunch reports that Uber and Pony.ai will begin testing Pony.ai's Gen-7 robotaxis in London in the coming weeks. No commercial launch date was given.

• The bigger plan: the two companies plan to deploy 2,000 robotaxis in Europe, starting in Zagreb, Croatia, where they launched a service in August with a third partner, Verne.
• How it works: in Zagreb a partner owns and runs the fleet while Uber supplies its ride-hailing app. The companies haven't said who will own and run the London fleet.
• The competition: London is getting crowded. British startup Wayve raised $1.2 billion in February, with Uber among the backers, and plans robotaxis in London too.
• Uber's reach: Uber has deals with more than 30 self-driving companies and expects driverless trips in up to 15 cities worldwide by the end of 2026, per TechCrunch.

What to watch

• Whether Waymo's London and Tokyo launches get dates.
• Who will own and operate the Uber and Pony.ai fleet in London.
• The outcome of the US school-bus investigations, which could affect how fast robotaxis expand.

Not financial advice. This is a summary of public reporting. Do not buy or sell anything on the strength of a blog post, including this one.

Sources

• Waymo locks in $5B loan from Blackstone, PIMCO to fuel robotaxi expansion, TechCrunch, Oct 8, 2026
• Uber and China's Pony.ai plan to launch robotaxis in London, TechCrunch, Oct 8, 2026