Musk says SpaceX closed $40 billion in debt for GPUs

Elon Musk said on Sunday, October 25, 2026, that SpaceX had closed $40 billion in debt financing for graphics processors. Reuters reported the remarks from his post on X. Reuters added a limit in the same story: “It was not immediately clear from Musk’s post what he meant by the deal being ‘closed’ or whether investors had agreed to pricing for the debt.” This desk has not reviewed a credit agreement, a regulatory filing, or a statement from a lender. The $40 billion figure below is Musk’s, as Reuters quotes it.

Reuters quotes him: “This is primarily callable debt for GPU purchases that will arrive in Q1 and Q2. Not a major factor this quarter.” He attributed the raise, Reuters says, to the company’s investment-grade status and to revenue from Starlink satellite internet and from launches. Reuters says it reported earlier this month that SpaceX was in talks with banks and asset managers to raise $40 billion to buy Nvidia artificial-intelligence chips. The Sunday post is his statement that the financing had closed. The Reuters story does not name the banks, the coupon, or the maturity, and it does not say Nvidia has confirmed an order of that size.

What else Reuters quotes him saying

Musk said debt markets “have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers.” Reuters says he predicted that neocloud companies would face significant consolidation and failures, and that he later said SpaceX will not buy any neoclouds, calling that “pointless.” Those sentences are his forecast and his description of credit markets, printed by Reuters. They are not a count of companies that have failed, and the story does not quote him naming a firm.

Reuters describes neoclouds, in its own words, as companies that mostly focus on technology customers and offer capacity tailored for AI, and it gives Nebius and CoreWeave as examples of that category, set against larger cloud firms that serve a broad range of industries. That sentence is Reuters explaining the label. It is not a statement in the quoted post that either company has lost access to credit.

In the same story, Reuters says Chief Financial Officer Bret Johnsen has put fourth-quarter capital expenditure at $35 billion to $40 billion. It also reports that SpaceX’s revenue climbed 161 percent from a year earlier to $14.58 billion for the three months ended September 30, and that AI revenue rose by almost ten times to $7.56 billion. Those figures are Reuters’ account in this article. The article does not link the filing or the transcript they come from, and this desk has not checked them against one.

Why it matters (analysis)

The new fact on October 25 is a chief executive’s post saying a $40 billion debt raise for processors is closed, plus a wire service saying the post itself does not show the pricing. A talk that Reuters says was underway earlier in the month, and a post that says the talk is finished, are different stages. Only the second is what Musk asserted on Sunday. Callable debt that he says funds deliveries in the first and second quarters is, on his wording, a financing tied to hardware that has not all arrived. His comment on who can still borrow is his reading of the credit market. Reuters’ revenue and capital-expenditure lines are context the wire included. They are not, in this story, a table from a filing this desk has opened.

This report is not investment, credit, or tax advice. Nothing here is a recommendation to buy, sell, or hold any security.

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This report is not legal, financial, or health advice. See the disclaimer.