00:00It's Benzinga bringing Wall Street to Main Street.
00:02Elon Musk said Sunday that SpaceX closed $40 billion in debt financing to purchase
00:08graphics processing units for artificial intelligence computing, according to Reuters.
00:12Musk attributed the deal to SpaceX's investment-grade status
00:16and revenue from Starlink and launch operations.
00:19The company expects capital expenditures of $35 billion to $40 billion in the fourth quarter.
00:25Musk said debt markets have largely restricted financing for companies
00:29without substantial revenue outside AI data centers.
00:32He predicted consolidation and failures among neocloud companies
00:36and ruled out acquiring any.
00:38SpaceX's third quarter revenue surged 161% to $14.58 billion,
00:45while AI revenue increased nearly tenfold to $7.56 billion.
00:49Its chip-making venture with Tesla, Terafab,
00:52expects to produce its first test chip around May or June next year.
00:56For all things money, visit Benzinga.com.
00:59Sukhے
