SpaceX Closes $40 Billion Debt Raise for AI Chip Expansion Amid Neocloud Consolidation Fears

Elon Musk announced that SpaceX has closed a $40 billion debt financing deal to fund the purchase of Nvidia graphics processing units, positioning the company to dramatically expand its artificial intelligence infrastructure while competitors face tightening credit markets. The financing, structured as approximately $10 billion in bank loans and $30 billion in investment-grade debt, will be facilitated by Goldman Sachs and Apollo Global Management. Nvidia chips are expected to arrive in the first and second quarters of 2027, with the debt priced between 7.75% and 8.3%—higher than SpaceX's existing bond yields due to recent credit market turbulence.