SpaceX's $40 billion debt gets pricier, up to 8.3%, on AI fears

According to Semafor (exclusive, October 22, 2026), SpaceX's $40 billion debt offering is closing at interest rates markedly higher than the last time the company tapped bondholders. Semafor reads this as a sign of growing jitters in the AI world. It should be noted that what was downloaded is the text of the story, which is short, and this summary is limited to what appears in it.

According to people familiar with the deal, the lowest-rated tranche would carry an interest rate of roughly 8.3%. A safer tranche, backed by some of SpaceX's chips, would price next week at around 7.75%. The deal is being led by Apollo and Goldman Sachs, which declined to comment.

The article notes that 7.75% is more than one percentage point above where SpaceX's existing bonds currently trade. It attributes this to an AI-linked lending market that has pulled back sharply in recent weeks. Semafor cautions that pricing could change before the final close, expected next week.

The context the piece provides: SpaceX's existing bonds — the company, according to the text, is considering a merger with Tesla — have weakened in recent days. Solid results were overshadowed by massive spending plans and concerns over the company's debt levels. Added to this are broader AI fears fueled by CoreWeave's debt sale. In addition, credit default swaps (CDS) on the company have widened, signaling some skepticism toward its plans.

As an additional detail, the article recalls that President Donald Trump bought $5 million in SpaceX bonds in August.

Overall, the story illustrates that financing for AI infrastructure, including chip-backed financing, is beginning to demand higher risk premiums. The text offers no further details on the deal's structure, the tranches or the specific use of the proceeds.