SpaceX secures $40b loan to purchase AI graphics chips

Company CEO Elon Musk confirmed the development in a post on X (formerly Twitter) on Sunday (October 25), highlighting that the funding is backed by revenues generated from Starlink's satellite internet services and rocket launch operations, alongside the company's investment-grade credit rating.

In a follow-up post, Musk clarified that the bulk of the financing secured for the GPU purchases will be structured as draw-down debt facilities, with disbursements slated for the first and second quarters of 2027.

Prior to the announcement, Bloomberg reported that SpaceX had been in active discussions with banks and institutional investors—led by Goldman Sachs and involving key investors like Apollo Global Management—to arrange the funding.

According to the report, the proposed financing structure utilizes a Special Purpose Vehicle (SPV) designed to keep the debt off SpaceX's direct balance sheet, thereby preserving its investment-grade credit standing.

The capital injection underscores the staggering financial demands required to scale advanced artificial intelligence models and build out robust data center capabilities. SpaceX has aggressively expanded its AI business unit—termed "Super Intelligence" (SI)—over the past year.

According to recent financial figures, the AI division has rapidly evolved into the company's largest revenue driver, posting $7.56 billion in revenue for the third quarter of this year—a nearly ninefold surge compared to $813 million during the same period last year.

Musk also warned that debt markets are increasingly tightening for enterprises lacking significant revenue streams outside of AI data centers. He predicted a wave of failures and consolidation among more than 200 specialized cloud computing providers, known as "Neoclouds," suggesting that only a handful of resilient players will ultimately survive in the market.