By Nupur Anand<\/p>\n
June 23 (Reuters) – Elon Musk’s SpaceX said on Tuesday it has launched a \u200cfive-tranche notes offering to raise at least $25 \u200cbillion, as the newly public company seeks funding for its \u200bcapital-intensive AI expansion.<\/p>\n
SpaceX’s AI ambitions carry a hefty price tag, requiring tens of billions of dollars in investment in data centers, computing hardware and power infrastructure.<\/p>\n
The \u200csenior unsecured notes \u2060will be issued across 5-year, 7-year, 10-year, 20-year, 30-year tenors. Proceeds will be \u2060used to repay borrowings under its bridge loan facility as well as for general corporate purposes.<\/p>\n
The offering, \u200bwhich is \u200bSpaceX’s first investment-grade dollar \u200bbond issuance, has drawn \u200cnearly $85 billion in orders, a source familiar with the matter told Reuters.<\/p>\n
Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Morgan Stanley are managing the sale, according to a document seen by Reuters.<\/p>\n
Credit \u200crating agencies assigned the company \u200binvestment-grade ratings last week, signaling \u200bconfidence in SpaceX’s \u200bfinancial stability as it moves forward \u200cwith its costly AI plans.<\/p>\n
The \u200brockets-to-AI firm’s \u200bshares rebounded on Tuesday, following a recent selloff tied to a broader tech pullback, after a \u200bblockbuster debut \u200con June 12.<\/p>\n
(Reporting by Nupur Anand in New \u200bYork and Juby Babu in Mexico City; \u200bEditing by Vijay Kishore)<\/p>\n","protected":false},"excerpt":{"rendered":"By Nupur Anand June 23 (Reuters) – Elon Musk’s SpaceX said on Tuesday it has launched a \u200cfive-tranche…\n","protected":false},"author":2,"featured_media":492293,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[516,246682,111,139,69,147,392,1503,135152],"class_list":["post-492292","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-elon-musk","tag-hefty-price-tag","tag-new-zealand","tag-newzealand","tag-nz","tag-science","tag-space","tag-spacex","tag-unsecured-notes"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/492292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=492292"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/492292\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/492293"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=492292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=492292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=492292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}