Elon Musk says lenders have nearly stopped funding AI data center firms

Elon Musk says the debt markets have largely closed their doors to AI data center companies. The one door still swinging open, conveniently, belongs to his own company. In a post on X on October 25, 2026, Musk said lenders have nearly stopped funding AI data center firms that lack independent revenue streams. He set that freeze against SpaceX’s recent success in securing a $40 billion debt package aimed mostly at buying Nvidia GPUs. One borrower gets the keys Musk’s argument is simple. Companies whose only business is AI compute now face a much harder time borrowing money. By Musk’s account, SpaceX has the steady paychecks. He credited the financing to the company’s investment-grade credit rating and to the recurring revenue from Starlink, its satellite internet business, and its rocket launch operations. The $40 billion package ranks as one of the largest transactions in the sector at a moment when credit conditions are tightening. The debt is expected to be callable. That means SpaceX would have the option to pay it back before it comes due, which gives the borrower some flexibility if conditions change. The money is set to support GPU deliveries in the first and second quarters ...