SpaceX launched a five-tranche notes offering on Tuesday to raise at least $25 billion, as Elon Musk’s company looks to refinance debt and fund a capital-heavy expansion in artificial intelligence infrastructure.
Bond sale attracts nearly $85 billion in demand
The notes are split across 5-year, 7-year, 10-year, 20-year and 30-year maturities, with the funds set to help clear a bridge loan and cover broader corporate needs. Investor demand has reached nearly $85 billion, Reuters reported, citing a person familiar with the deal.
AI buildout adds pressure for long-term capital
SpaceX’s AI plans are expected to require tens of billions of dollars in spending on data centers, computing hardware and power infrastructure, adding to the company’s need for long-term capital.
Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Morgan Stanley are managing the sale, according to a document seen by Reuters.
The deal marks SpaceX’s first investment-grade dollar bond issuance after credit rating agencies assigned the company investment-grade ratings last week.
SpaceX debt sale follows $900 billion market value slide
The bond sale comes after a sharp reversal in SpaceX shares, with the stock falling more than 35% from its all-time high and wiping about $900 billion from the company’s market value.
The selloff has put SpaceX’s AI spending, debt refinancing plans and ability to defend one of the market’s highest valuations under closer investor scrutiny.
The decline also cut deeply into Musk’s wealth, reducing his net worth by more than $350 billion over the past week to around $1.1 trillion.
SpaceX shares cool after post-listing surge
SpaceX shares are showing signs of cooling after a sharp post-listing surge toward the $220 area, with the stock reversing to around $156 and trading well below its peak.
The RSI near 37 points to weak momentum, though it is not yet deeply oversold, suggesting sellers remain in control but the decline may be nearing a stabilization zone.
What happens next will likely depend less on technical signals alone and more on SpaceX’s next updates, including bond pricing, AI infrastructure spending, debt refinancing progress, credit-rating stability and whether investors regain confidence after the valuation reset.
