SpaceX upsizes $25B bond sale as investors demand higher yields

SpaceX is selling $25 billion of bonds to institutional investors at yields of about 1.1 to 1.75 percentage points above US Treasuries for five to 30-year maturities, after demand rose enough to upsize the issue from $20 billion. The deal, rated Baa1 by Moody’s, will fund repayment of a bridge loan tied to the xAI/X merger, underscoring investors’ willingness to back Musk’s AI and space bets despite heavy cash burn and longer‑term risk concerns. Demand leaned toward shorter maturities, and issuance comes as tech AI deals flood the market and investors weigh longer-term risks against near-term growth prospects.