SpaceX says it closed $40 billion debt deal for AI chips, Musk warns of neocloud shakeout

Elon Musk said in posts on social platform X that SpaceX has closed about $40 billion in debt financing to buy Nvidia graphics processors for its artificial intelligence computing push. CNBC reported that the chips bought under the deal are expected to arrive in the first half of 2027.

Musk described the financing as mostly callable debt, meaning SpaceX can repay it early. He tied the company's ability to raise that much debt to its investment-grade credit rating, which he linked to steady revenue from its Starlink satellite internet service and its rocket launch business.

Bloomberg offered a more cautious account of the same deal. Citing people familiar with the discussions, Bloomberg reported that talks over the pricing of the debt were still ongoing, suggesting the financing was not as fully settled as Musk's posts implied.

Musk also used the moment to warn about the broader market for so-called neoclouds, companies that lease out AI computing capacity to other businesses rather than running their own models. He said he expects many of the more than 200 such firms now operating to fail, predicting a consolidation in the sector.

He did not provide data to support that prediction and did not name any specific company he expects to struggle, according to the coverage. The comments come as investors have grown more cautious about how AI infrastructure companies plan to repay the large amounts of debt many have taken on to buy chips and build data centers.

SpaceX itself has leaned on both equity and debt markets this year. The company went public earlier in 2026 in a large initial public offering and has since raised additional billions in bonds, on top of the new financing aimed specifically at chip purchases.

Nvidia chips remain central to SpaceX's AI ambitions. Musk has said the company intends to build its AI data centers exclusively with Nvidia hardware, and the new debt deal is aimed at securing enough of that hardware to expand its computing capacity over the next year.