SpaceX sells bonds to fund AI and space tech projects
SpaceX just made another big move: after its record-breaking stock market debut on June 12, the company is now selling bonds to raise even more cash.
The goal? To fuel projects in artificial intelligence and next-generation space tech, plus keep up with growing costs from rockets and data centers.
With an estimated $1.8 trillion valuation, SpaceX is definitely playing in the big leagues.
Elon Musk retains majority control
By offering bonds instead of more shares, SpaceX avoids diluting ownership, so Elon Musk keeps his majority control.
The money will help pay off loans and support new tech investments.
Even with rising expenses, SpaceX reportedly has more than $100 billion in cash on hand.
Following its June 12 IPO, its market value briefly exceeded Amazon's and Microsoft's but then dropped back by nearly 25%.
Musk's stake means his net worth shot past $1 trillion; pretty wild for one launch!