Elon Musk said SpaceX has closed $40 billion in debt financing to purchase graphics processing units, or GPUs, used to power artificial intelligence systems.
In a post on X on Sunday, Musk said SpaceX had closed the financing, adding that the company was investment grade and generated revenue from its Starlink satellite internet and rocket launch businesses.
In a follow-up post, he added that the financing, primarily consisted of callable debt for graphics processing units, is expected to arrive in the first and second quarters of 2027.
Bloomberg reported earlier, citing people familiar with the matter, that SpaceX was in talks with banks and investors to raise $40 billion to purchase Nvidia chips.
The proposed financing would use a special purpose vehicle to keep the debt off SpaceX's balance sheet and preserve its investment-grade credit ratings, according to Bloomberg.