SpaceX is preparing for a major fundraising move as it plans a bond offering worth at least $20 billion, according to a Reuters report. The proceeds are expected to refinance the bridge loan used earlier this year for the acquisition of xAI and support the companyโs ambitious AI expansion strategy. Major banks including Bank of America, JPMorgan Chase, Goldman Sachs, Citigroup, and Morgan Stanley are expected to manage the deal.
Meanwhile, SpaceX shares slipped 3.6% after its blockbuster IPO, prompting investors to reassess whether the companyโs lofty valuation can be justified by its costly AI ambitions. Adding to its AI push, SpaceX recently announced a $60 billion all-stock acquisition of Anysphere, the company behind the popular AI coding assistant Cursor, strengthening its competition with OpenAI and Anthropic.
