Bloomberg Reports SpaceX 40 Billion Dollar GPU Debt Deal Had Not Yet Closed as of Sunday Despite Elon Musk Claim
Elon Musk has claimed that SpaceX closed a $40 billion debt deal to pay for the chips it needs to fuel its AI ambitions. However, people familiar with the matter said the parties were still engaged in pricing discussions as of Sunday and the deal had not yet closed.
Context
Ongoing pricing negotiations on a 40 billion dollar GPU debt package even for an investment grade borrower like SpaceX show that lenders are scrutinizing AI hardware financing terms across the entire market.
Earlier on Sunday Elon Musk stated on X that SpaceX had closed 40 billion dollars of debt financing for GPUs backed by its investment grade Starlink and rocket launch revenue while warning that standalone AI neoclouds had been cut off by debt markets.
Deep dive
Bloomberg reported on Sunday night at 9:15 PM Eastern Time that SpaceX's 40 billion dollar debt financing package to purchase AI chips had not yet formally closed, citing people familiar with the transaction who said lenders and the company remained in active pricing discussions as of Sunday.
The report directly pushed back on Elon Musk's statement earlier Sunday afternoon, in which Musk wrote on X that SpaceX had closed 40 billion dollars of debt for GPUs because the company is investment grade and generates substantial cash flow from Starlink and orbital launch operations independent of AI data centers.
While Bloomberg's sources did not dispute that SpaceX is raising the multi billion dollar debt facility to fund GPU cluster buildouts for xAI workloads, the distinction between an active pricing negotiation and a completed closing drew over 109,000 views on X. Credit market analysts noted that negotiating interest rate spreads and covenants on a 40 billion dollar corporate debt issuance is one of the largest private hardware financing efforts ever attempted, making final pricing terms a benchmark for the broader AI infrastructure debt market.
What to expect next
Credit investors and AI infrastructure analysts will watch for official syndicate terms, interest rate spreads, and final closing confirmation on SpaceX's 40 billion dollar GPU debt facility over the coming days to see what pricing benchmark investment grade AI borrowers command in late 2026. Any widening in credit spreads or stricter collateral covenants on SpaceX's loan will signal even tighter borrowing conditions for smaller data center developers seeking debt financing in 2027.