Waymo is in discussions with Pacific Investment Management Co. (PIMCO), Sixth Street and Blackstone Inc. over a $3 billion unrated debt raise, with Goldman Sachs advising. The deal could be finalized within days, although talks remain ongoing and terms could change. The financing would diversify Waymo's funding beyond equity as it expands its driverless fleet and absorbs rising artificial-intelligence costs. Waymo raised $16 billion in equity at a $126 billion valuation earlier this year. It provides more than 500,000 paid trips weekly across 14 cities and targets 1 million rides across 20 cities this year, while preparing tests in markets including London and Tokyo. The company has developed a custom chip for its robotaxis and faces a federal safety investigation into a January crash near a school in Santa Monica, California, involving a 9-year-old girl.