Good morning. How much money would you say your company has in its bank account? $100,000? $100 million? How about $100 billion?
SpaceX on Monday disclosed that it’s sitting on a cash pile of precisely $100.8 billion—enough money to swallow Airbnb whole and still leave an all-American 20% tip. The figure emerged as part of SpaceX’s inaugural bond sale (to the tune of a reported $20 billion) that the company hopes will pay off bridge financing (which helped streamline its debts ahead of its recent IPO) and other needs.
What kind of “other needs” require raising money on top of all that dough? AI chips, certainly, for all those data centers it plans to build, terrestrial or otherwise. Rockets and satellites, of course, because those surely aren’t cheap. But before you get too excited about a little automaker named Tesla, fair warning: The price tag on that, Elon Musk’s current stake notwithstanding, is well over a trillion dollars.Just saying! Today’s tech news below. —Andrew Nusca
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Meta’s latest reverse acqui-hire: Cred founder Kunal ShahCred founder and CEO Kunal Shah. (Courtesy: Cred)Cred
