Musk’s SpaceX adds billions in debt while cutting interest

SpaceX is set to pay around $1.5 billion in annual interest on a $25 billion inaugural bond sale, with the offering receiving $89 billion in orders. The debt issuance follows Elon Musk merging various ventures, including xAI, into SpaceX ahead of its $75 billion IPO earlier this month. The proceeds will support xAI's AI infrastructure buildout, though xAI reported $3.2 billion in sales against a $6.4 billion operating loss in the latest year.