How does the new debt compare with SpaceX's existing bonds?

The new debt is expected to price more than 1 percentage point above where SpaceX's current bonds trade.

Who is leading the debt raise?

The deal is being led by Apollo and Goldman Sachs.

When is the debt expected to be finalized?

Pricing is expected sometime next week, though it could change before the debt is finalized.

AI Business & IndustrySemafor Tech3m agoOct 23, 2026, 06:01 JST

SpaceX $40 billion debt to price at 8.3% as AI fears spread

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3 Key Points

What happened
SpaceX's $40 billion debt raise, led by Apollo and Goldman Sachs, is expected to price its lowest-rated portion around 8.3% and a chip-backed safer piece near 7.75% next week.
Why it matters
That is more than 1 percentage point above where SpaceX's current bonds trade, a sign of growing caution that could raise borrowing costs for the company.

WHO IT HITSCompanies tapping debt markets for large AI-related expansions, such as chip and data-center builds, may face higher borrowing costs. SpaceX itself is considering a merger with Tesla while carrying this new debt load.

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Context & Analysis

SpaceX's existing bonds have weakened in recent days, with strong earnings overshadowed by massive spending plans and concerns about the company's debt load. The broader AI fear has been fueled by CoreWeave's debt selloff, which has rippled through the market for AI-related loans. Default insurance on SpaceX also widened, signaling some misgivings about the company's plans. President Donald Trump purchased $5 million in SpaceX bonds in August, a detail that sits alongside the market's cooler reception. The company is currently considering merging with Tesla, adding another layer of complexity for bondholders assessing the final pricing next week.

FAQ

How does the new debt compare with SpaceX's existing bonds?: The new debt is expected to price more than 1 percentage point above where SpaceX's current bonds trade.
Who is leading the debt raise?: The deal is being led by Apollo and Goldman Sachs.
When is the debt expected to be finalized?: Pricing is expected sometime next week, though it could change before the debt is finalized.

Semafor TechRead Original Article

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