SpaceX taps bond market after IPO, Elon Musk keeps control
SpaceX just made its first move in the bond market, right after raising a huge $85.7 billion in its initial public offering earlier this month, with cash reserves exceeding $100 billion.
The new bonds will help turn short-term loans into longer-term debt and fund pricey projects like AI technology and next-generation rockets.
Elon Musk still calls the shots with 82% voting power, choosing debt over selling more shares to keep control tight.
SpaceX bonds fund operations, repay loans
The cash from these bonds is set for everyday business needs and to pay off loans.
Even with revenue up 33% to $18.67 billion in 2025, SpaceX has been spending heavily on AI and Starship, leading to some losses lately.
Still, credit agencies Moody's and Fitch gave SpaceX solid investment-grade ratings, Baa1 and BBB+, showing trust in its financial strength as it ramps up infrastructure.
SpaceX seals Reflection AI chip deal
SpaceX also locked in an up to $6.3 billion deal with Reflection AI for NVIDIA chips, another step toward boosting its AI game and pushing expansion plans forward.
All these moves show SpaceX is serious about staying ahead in the fast-changing space industry, keeping innovation front and center as it aims higher.