Elon Musk announced on Sunday that SpaceX closed a $40 billion debt deal to purchase graphics processing units for its Super Intelligence business. The financing consists primarily of callable debt tied to GPUs expected to arrive in the first and second quarters of 2027.

Musk highlighted SpaceX's investment-grade credit rating and diversified revenue from Starlink satellite internet and rocket launches as key factors that enabled the deal. This stands in contrast to numerous neocloud providers that lack independent revenue streams and now face restricted access to capital markets.

SpaceX has rapidly expanded its Super Intelligence operations this year, with the segment becoming the company's largest business unit. Third-quarter revenue from Super Intelligence surged ninefold to $7.56 billion compared to $813 million a year earlier.

The announcement comes amid reports that pricing discussions for the debt, structured through an off-balance-sheet entity, remained ongoing as of late Sunday. Musk posted on X that debt markets have largely shut out firms dependent solely on AI data center revenue, predicting consolidation among more than 200 such neoclouds.

Capital expenditures for the Super Intelligence unit reached nearly $40 billion through September, underscoring the scale of investment required. SpaceX stock rose modestly in after-hours trading following the news.

The company continues to work with partners including Tesla on advanced chip manufacturing initiatives slated for later in the decade.