SPCX Slides Overnight: SpaceX’s $40B Chip Financing Reportedly Hits Market — Texas Senator Says Democrats Will ‘Go After Elon Musk’
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The package includes an $8.3 billion senior-secured loan and bond tranches, helping fund $47.3 billion of Nvidia equipment.
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Chip deliveries and leases are expected to begin in early 2027, with SpaceX owing $40 billion in principal plus interest and expenses.
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Texas Republican U.S. Sen.Ted Cruz warned Democrats could use congressional subpoenas to target Elon Musk and other Trump-aligned executives.
Shares of Space Exploration Technologies Corp. (SPCX) slid over 2% overnight late Wednesday as Goldman Sachs and Apollo Global Management reportedly sought buyers for portions of its $40 billion chip financing, while Democrats' election victory fueled warnings of greater scrutiny of Elon Musk and his businesses.
SPCX stock fell nearly 4% on Wednesday to $135.92, with shares still tracking nearly a 1% gain so far this week.
Wall Street Pitches $500M Slices Of SpaceX Debt
Investors are being offered slices of SpaceX's $40 billion chip financing worth up to $500 million ahead of the formal sale process, as concerns over AI spending and potential political ...