In 4 Months, SpaceX Has Now Sought to Raise Over $150 Billion. Should Investors Be Worried or Is This a Flashing Buy Signal?
SpaceX is reportedly seeking to raise a fresh $40 billion of debt.
Overview
In recent days, Space Exploration Technologies Corp (NASDAQ:SPCX) stock has hit its highest level since its initial public offering in June, and the company isn't sitting idle.
The Financial Times reported that SpaceX is seeking to raise another $40 billion of debt, $10 billion through bank loans and $30 billion in investment-grade debt. The purpose of the debt is to purchase chips from Nvidia, which SpaceX plans to use in its data centers.
Details
The news is staggering because, on top of SpaceX's nearly $86 billion initial public offering, the company raised another $25 billion of debt just a few weeks later. If successful with the new $40 billion raise, that would bring total capital raised to over $150 billion in just four months.
Source
Originally published at www.fool.com.