Waymo closed a $5 billion term loan in October 2026, which the company describes as its first debt financing. Alphabet’s Q3 results, released October 28 for the quarter ended September 30, show a wider operating loss for Other Bets, the segment that includes Waymo. Those figures are segment totals, not Waymo’s standalone results.
Waymo’s first debt financing
Waymo said the loan capital will support expansion of its autonomous ride-hailing service across the United States and internationally. The company’s announcement describes the loan as its first debt financing.
Fortune reported that PIMCO, Blackstone and Sixth Street were lead syndicated lenders, and that Goldman Sachs was the sole lead bookrunner.
Alphabet’s Q3 results for Other Bets
Alphabet reported $372 million in revenue and a $2.047 billion operating loss for Other Bets in Q3 2026, compared with $344 million in revenue and a $1.426 billion operating loss a year earlier. Alphabet’s release labels the segment figures unaudited. (Alphabet’s Q3 results)
| Other Bets measure | Q3 2025 | Q3 2026 |
| Revenue | $344 million | $372 million |
| Operating loss | $1.426 billion | $2.047 billion |
The operating loss increased by $621 million, about 43.5% based on the reported figures. Revenue rose by $28 million, about 8.1%; Alphabet reported revenue growth of 8%. The segment’s loss therefore grew considerably faster than its revenue.
What the segment figures say about Waymo
Other Bets combines multiple operating segments, Fortune reported, and Alphabet says its revenue comes primarily from autonomous transportation and internet services. Waymo is part of the segment, but the Q3 revenue and operating-loss figures above cover the aggregate, not Waymo alone.
Waymo had also announced a separate $16 billion investment round in February 2026, at a post-money valuation of $126 billion. (Waymo’s February announcement)
