SpaceX, Elon Musk's company, completed a $25 billion debt offering on Tuesday, less than two weeks after its giant stock sale. Last week, the company had said it planned to raise $20 billion through bonds, only days after it executed the largest initial public stock offering in history, which brought in $75 billion.
The new financing came after an early surge in the company's share price faded. SpaceX stock is now about 30% below its peak, though still above the IPO price. Even so, demand for the bonds was strong. Sources involved in the deal told CNBC that orders reached nearly $90 billion, far above the final amount sold.
The company needs the cash to support major spending on its space rocket development. It also plans to build data centers and other massive AI infrastructure for xAI, its artificial intelligence operation.
SpaceX posted a net loss of nearly $5 billion last year, and its only profitable business at the moment is Starlink, its satellite internet service, which generated $4.42 billion in operating profit in 2025. Mitav chairman Avner Stepak warned in Calcalist that the stock offering had been priced too high and called it "a huge bubble."
