Elon Musk said on X on Sunday, October 25, 2026, that SpaceX had closed $40 billion of debt financing for graphics processing units, or GPUs, for artificial intelligence.
Musk said the debt is primarily callable debt for GPU purchases due for delivery in the first and second quarters of 2027, and “not a major factor this quarter.” He attributed the raise to SpaceX’s investment-grade status and revenue from Starlink satellite internet and rocket launches.
Reuters reported earlier in October that SpaceX was in talks with banks and asset managers to raise $40 billion for Nvidia AI chips, and the Financial Times had reported Apollo led the financing, according to a SiliconANGLE summary on October 26. SpaceX expects $35-40 billion in capital expenditure in the fourth quarter, according to chief financial officer Bret Johnsen, as reported by Reuters on October 25.
In the same X thread, Musk said debt markets have “almost entirely shut off” money for companies without substantial revenue independent of AI data centres. His prediction for the more than 200 “neoclouds” — firms that rent out GPU capacity, such as CoreWeave and Nebius — was “guppy-level death and consolidation. Some will make it through, but not many.” He later added SpaceX will not buy any neoclouds, calling it “pointless.” Market reaction noted on October 26 had CoreWeave, Nebius and IREN each falling about 2% in overnight Sunday trading, with CoreWeave shares roughly halved over six months. The Information separately reported data-centre tenants now demanding $5 million or more per day in late-delivery penalties, up from about $1 million in spring. Note: the $40 billion “closed” claim originates from Musk’s own post; Reuters noted it was not immediately clear what “closed” meant or whether investors had agreed pricing, so pricing, lenders and final terms are not presented here as confirmed.
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