Elon Musk said EspaceX closed $40 billion in debt financing to buy graphics processing units, or GPUs, used to power artificial intelligence systems.
In a post on
In a follow-up article, he added that the financing, mainly made up of repayable debt for the graphics processing units, is expected to arrive in the first and second quarters of 2027.
Bloomberg had reported earlier, citing people familiar with the matter, that SpaceX was in talks with banks and investors to raise $40 billion to buy Nvidia chips.
The proposed financing would use a special purpose vehicle to keep debt off SpaceX’s balance sheet and preserve its investment-grade credit ratings, according to Bloomberg.
Goldman Sachs was leading discussions with investors, including Apollo Global Management, on the financing structure, according to Bloomberg.
The funding underscores the enormous capital needs of the AI boom, as technology companies invest billions of dollars in advanced chips and data centers to support increasingly powerful AI models.
SpaceX has been aggressively expanding into artificial intelligence this year, dubbing the activity “Super Intelligence” or SI.
The segment became the company’s largest business unit, with revenue increasing nine-fold in the third quarter to $7.56 billion from $813 million a year earlier, according to its latest earnings release.
Musk also said debt markets have largely closed off access to financing to companies without substantial revenue outside of AI data centers.
He predicted that more than 200 so-called neocloud companies, which provide cloud computing infrastructure purpose-built for artificial intelligence and machine learning workloads, would face widespread failures and consolidation, and only a small number would survive.
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