SpaceX (SPCX) CEO Elon Musk said his company closed on $40 billion in financing to pay for specialized chips used to power AI, but warned access to debt is drying up for companies that solely rely on data center revenue, sending shares of neoclouds CoreWeave (CRWV) and Nebius (NBIS) lower. "As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn't have substantial revenue independent of AI data centers," wrote Musk on X on Sunday. Musk went on to say that SpaceX (SPCX) closed $40 billion in debt for Nvidia's (NVDA) GPUS or graphics processing units used for AI, but highlighted that the space company is "investment-grade" and has Starlink & rocket launch revenue.
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