SpaceX has launched its first investment-grade bond sale, seeking to raise at least $20bn. The offering, rated Baa1/BBB+/BBB by the major agencies, will primarily refinance a bridge loan and fund an ambitious AI data centre build-out — including orbital facilities. The move comes days after SpaceX's record $75bn IPO. The company has already signed roughly $75bn in computing contracts with Google and Anthropic. Analysts note risks including projected net debt exceeding $400bn by 2031 and Elon Musk's concentrated voting control.
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What the money is forA record IPO, days earlierBorrowing to build AIThe risk in the rocket718 Impressions