SpaceX raised $25 billion in its first bond offering, but wider-than-expected spreads signal bond investors are growing cautious about massive AI spending

By William Gavin and Joy Wiltermuth

Just days after the giant offering that raised $85 billion, SpaceX turns to the bond market for the first time to fund its AI and rocket developments.

SpaceX has unveiled a five-tranche notes offering to raise $25 billion, aiming to repay debt and fund its ambitious AI expansion requiring significant infrastructure investments.

SpaceX raised $25 billion in its first bond sale with orders near $90 billion, days after its record IPO, to fund Starlink and Starship.

SpaceX has raised $25 billion through its first major debt offering as a public company, less than two weeks after completing a historic initial public offering (IPO)

Allianz CIO warns that SpaceX's bond sale signals bubble territory, raising concerns about stretched valuations in private tech and broader risk markets.

Allianz CIO Ludovic Subran says SpaceX's $25B bond sale, which drew nearly $90B in orders, signals markets have entered bubble territory.

“We expected SpaceX to widen from issuance level, but not this much..."

SpaceX raised $25 billion in its first bond offering, but wider-than-expected spreads signal bond investors are growing cautious about massive AI spending

SpaceX’s $25 billion debt sale drew heavy demand, but analysts warn of capital spending, refinancing and investor concentration risks.