247 Wall St. · 2026-10-08
SpaceX Plans $40 Billion AI Chip Debt Package — $10B Bank Loans + $30B Investment-Grade Bonds — as Oracle and Broadcom Queue Simultaneously
SpaceX would borrow entirely in its own name at its BBB/Baa1 rating to fund Nvidia chip purchases, with closing expected in 2027. Its total debt already reached ~$39.7B in June 2026, up from $30.6B a quarter earlier. The simultaneous queue of SpaceX, Oracle, and Broadcom competing for investment-grade debt capacity at the same time is a fresh stress test for the AI-capex credit market.
Benzinga / TradingView · 2026-10-05
Oracle and SpaceX Bonds Now Highest-Yielding Among Hyperscalers, Both Above 7.5% YTM, as 121 AI-Giant Bonds Breach 6% Yield
As of October 5, Oracle's 2066 bond yields 8.45% and SpaceX's 2046 bond yields 7.84% — both well above the BBB-rated average — while Oracle carries $169.1B in total debt against just $67.2B of equity (71.6% debt-to-equity). The 10-year Treasury at 5.27% and the 30-year at 5.63% (up ~39bps in a month) are mechanically pushing all AI-capex bond yields higher, flagging growing credit-market stress for the most leveraged issuers.