SpaceX locks in $40B GPU financing deal with Apollo
TechCrunchby Aditya Mehta
From TechCrunch: The financing gives SpaceX another way to fund its rapidly expanding AI ambitions without relying solely on traditional debt markets.
Elon Musk@elonmusk
Pretty much.
As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers.
SpaceX closed $40B of debt for GPUs, but we’re investment grade and have Starlink & launch…
Musk says SpaceX secured $40 billion in debt financing to buy AI chips, and that debt markets have shut off credit for AI data center firms, with 200+ neoclouds facing "death and consolidation".