Musk Says SpaceX Completes $40 Billion GPU Financing; Final Terms Unclear

Elon Musk said on October 25 that SpaceX has completed a $40 billion debt financing to fund purchases of graphics processing units for AI computing. The final pricing, lenders and full terms of the deal have not been disclosed, leaving unclear what "completed" means and whether investors have agreed to the debt pricing. Musk said the GPU purchases will have little impact on the current quarter. He cited SpaceX's investment-grade credit eligibility and revenue from its Starlink satellite network and rocket launch business. He also said bond markets have turned noticeably more cautious in recent weeks toward issuers lacking substantial revenue outside AI data centers. SpaceX's capital spending is climbing as it expands its AI operations. Third-quarter revenue rose 161% year over year to $14.58 billion, while quarterly capital expenditure reached $19.6 billion, nearly triple the year-earlier level.