Musk says SpaceX closed $40bn of GPU debt as credit for neoclouds dries up
Elon Musk said SpaceX raised $40bn of debt for GPUs because it is investment grade, and that lenders have almost stopped funding companies with no revenue outside AI data centres.
Source published · In the Daily Brief of 26 October 2026
Filed under AI industry, Credit risk
In a post on X on Sunday, Elon Musk, chief executive of SpaceX, said the company had closed $40bn of debt to buy GPUs from Nvidia and other suppliers, for delivery in the first and second quarters of 2027. He said SpaceX could borrow because it has an investment-grade rating and revenue from Starlink and launches. The Financial Times reported on 7 October that Apollo was leading the financing, with about $10bn of bank loans and $30bn of investment-grade debt.
Musk also said that over the past few weeks debt markets had almost entirely shut off money for companies without substantial revenue independent of AI data centres, and that more than 200 neoclouds, firms that rent out GPU capacity, would face death and consolidation. That is his assessment, not an established fact.
The claim lands in a week when Alphabet, Microsoft and Amazon report. Reuters has reported that investors are demanding higher yields on bonds tied to AI infrastructure, and Morgan Stanley expects global AI-related debt issuance to top $570bn this year, according to SiliconANGLE.