Elon Musk says SpaceX has closed a $40 billion debt deal to buy AI chips

Summary

Elon Musk said SpaceX has closed a $40 billion debt deal to pay for the chips it needs to fuel its artificial intelligence ambitions, Bloomberg reported on Sunday 25 October, and CNBC reported that Musk said in an X post that SpaceX has closed $40 billion in debt financing to purchase GPUs. In a Sunday X post Musk wrote that debt markets are reluctant to finance any company that relies almost entirely on AI data centers for revenue, while SpaceX earns revenue from its Starlink and rocket-launch activities, and that the 200+ neoclouds are going to see 'guppy-level death and consolidation', also writing in reply to another X thread that SpaceX is not buying any neoclouds, according to Business Insider, which noted that CoreWeave's stock has dropped about 37% in the past month and Nebius' 30%. On Monday 26 October people familiar with the discussions told Bloomberg News that talks over pricing were still ongoing.

Latest: CNBC reported that Musk said in an X post that SpaceX has closed $40 billion in debt financing to purchase GPUs, Business Insider that Musk wrote the 200+ neoclouds are going to see 'guppy-level death and consolidation' and that SpaceX is not buying any neoclouds, and Bloomberg that people familiar with the discussions said talks over pricing were still ongoing.

Written automatically by an AI from the articles' headlines and descriptions. It can contain errors: follow the links to read the articles.