Nasdaq-listed SpaceX · has raised $40 billion in debt to buy GPUs, the powerful processors used to run artificial-intelligence systems.
Elon Musk announced the deal on X, pairing it with a warning for neoclouds — companies whose revenue depends almost entirely on data centers — that could add to AI jitters on Wall Street and risk aversion in broader financial markets, including cryptocurrencies.
The $40 billion deal is mainly callable debt, meaning SpaceX can repay it early. The money could be used to pay for GPU deliveries expected in the first half of 2027, though Musk did not explicitly say so. Reuters previously reported that SpaceX was negotiating with banks and asset managers to raise $40 billion to buy Nvidia AI chips.
Musk said the reason SpaceX could borrow the money is because it has a strong credit rating and steady revenue from Starlink internet service and rocket launches. Those businesses do not depend on AI data centers, making it easier for SpaceX to secure chip financing than for companies that rely entirely on data centers for revenue. Debt funding for such firms is drying up, Musk noted.
“As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers,” he said on X.
Musk predicted that more than 200 “neoclouds” — newer companies that rent out AI computing power — will consolidate, with only a few surviving.
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