SpaceX Raises $25B

SpaceX saw nearly $90 billion worth of orders for a debt sale, CNBC has confirmed, as it proceeded to raise $25 billion. Elon Musk's rocket maker pursued the bond sale less than two weeks after the company's record IPO. SpaceX on Monday announced a senior unsecured notes offering and disclosed that it currently has just over $100 billion in cash. Less than two weeks after its record IPO, SpaceX has raised $25 billion in a debt sale, CNBC has confirmed.

SpaceX on Monday announced a senior unsecured notes offering, with sources telling CNBC that the company was looking to raise $20 billion. As of Tuesday, SpaceX had received nearly $90 billion worth of orders and upsized the sale by $5 billion, according to people familiar with the fundraising who asked not to be named because the details are private. Bloomberg was first to report on the orders figure. Banks managing the bond sale include Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley.

SpaceX is tapping the debt markets shortly after the company's blockbuster IPO, which turned CEO Elon Musk into the world's first trillionaire. The IPO raised nearly $86 billion, including the underwriters' option, and SpaceX disclosed on Monday that it now has just over $100 billion in cash. 3 billion SpaceX needs hefty amounts of capital as it looks to fund development of its massive Starship rockets and the expansion of its Starlink satellite internet business while paying for a wide array of artificial intelligence initiatives, including revamping its Grok models and coding agents.

SpaceX is also moving ahead with the $60 billion all-stock acquisition of AI-coding startup Cursor. The only profitable part of SpaceX's business is Starlink. 3 billion since the company's founding in 2002. The bond sale represents one of the largest in the AI era.

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