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Musk says SpaceX closed $40B in debt for Colossus GPUs

📍 TeslaNorth

Elon Musk said on X, on October 25, that SpaceX closed $40 billion in debt to buy GPUs, even as lenders pull back from much of the AI industry. According to Musk, debt markets have almost entirely shut off access to money for companies without substantial revenue independent of AI data centers, while SpaceX completed the deal because it is investment grade and has Starlink and launch revenue. He later clarified that the debt is primarily callable debt for GPU purchases arriving in the first and second quarters, which points to the first half of 2027.…

🔎 Why it matters: Musk says lenders have cut off debt access for companies without revenue independent of AI, and that SpaceX secured its debt through its investment-grade rating and Starlink and launch revenue. The figure comes from Musk's statements on X; SpaceX has not issued a separate announc
📈 Upside: The debt funds the next phase of GPU buildout for Colossus in Memphis, and because it is callable, SpaceX can repay it before maturity.
📉 Risk: The terms (rate, maturity and lenders) have not been published, and projected fourth-quarter capex of $35 billion to $40 billion is large relative to Q3 revenue of $14.6 billion.
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