SpaceX–Starlink Business & Operations

SpaceX bankers prepare for potential $20 billion bond offering, sources say

https://www.reuters.com/business/me...20-billion-bloomberg-news-reports-2026-06-18/

The offering would mark the first time the rockets-to-AI company has issued investment-grade dollar bonds. The size of the offering is not yet set and may change, the source said.
Proceeds from the debt offering would refinance a $20 billion bridge loan that SpaceX took out earlier this year, after acquiring Musk's AI startup xAI in February.
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Guess 85 billion was not enough?

Regards,
 
The threads „SpaxeX‘s finances“ and „Starlink - Non-Spaceflight discussion“ have been merged, as there were overlaps anyway and differentiating, which post is better suited to which thread had become difficult.
 
Market Cap in SpaceX terms means little due to the "Meme stock" moniker from Mad Money host Jim Cramer and the "Musk effect".

SpaceX didn’t really get $86B to play with. Once you strip out the $62.6B already spoken for the Tesla loan, the EchoStar spectrum payment, and the other pre‑existing obligations the company is left with roughly $23B it can actually use for AI capex. Add the $24B they had sitting in cash at the end of Q1, and the real number is under $50B.

https://www.sec.gov/Archives/edgar/data/1181412/000162828026036936/spaceexplorationtechnologi.htm

At the pace SpaceX is scaling AI compute, Starlink v3, Starship, Boca Chica, global gateways $50B isn’t a multi‑year cushion. It’s a 12/18-month fast burn window. If you know anything about Musk, he can vaporise that amount without even blinking.

You could also add the $16.7B that went to existing investors on the IPO first day instead of the company does not help. That money could have lifted the war chest by a full third. In a capital cycle this aggressive, that’s the difference between “we can keep pushing at full throttle” and “Scotty we need more money"

Bring on the first of many bond offerings........................

So, the headline number looks enormous, but the actual deployable capital is tight.

Regards,
 
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In their IPO prospectus, SpaceX played up their EBITDA (Earnings Before Interest, Tax, Depreciation, and Amoritization).

That brings me to another wonderful Warren Buffett quote:

“Even a high school dropout knows that to finance a car he must have income that covers not only interest and operating expenses, but also realistically-calculated depreciation. He would be laughed out of the bank if he started talking about EBDIT”
 
Halcyon66 said:
Elon Musk Is Charging Starlink Customers Gigantic Bogus Fees Because Its Network Is Being Crushed by “High Demand”...

The SpaceXAI "house of cards" needs more and more funds...................
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Halcyon66 said:
SpaceX is reportedly showing investors a phone prototype, months after Musk said "we are not developing a phone"

https://www.techspot.com/news/11299...g-investors-phone-prototype-months-after.html

Scotty we need more money..................
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What is the goal of musk industries? Well, with neuralink and mars, obviously it is immortal emperor of mars (commanding a robot army) and one'd need ALL THE MONEY for that. (and some people think the economy'd crash if the underclass lack money to generate demand)

*the common error with dealing with Musk is thinking too small*

And what, an opportunity to price gouge the customers? That is double plus good.
 
Musk is aiming for total market domination, but like countless robber barons before him I believe he will have a rude awakening before long. The competition never sleeps, but please remind me again why I should pay any attention to his current satellite schemes...
 
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Who do you think will be competing with him in the West, Martin? It will take years for anyone to match F9’s lift capacity, let alone what Starship is capable of. Competition is a good thing, but the competition is well behind and not moving as fast as SpaceX is to boot.
 
BlueAbyssal said:
Who do you think will be competing with him in the West, Martin? It will take years for anyone to match F9’s lift capacity, let alone what Starship is capable of. Competition is a good thing, but the competition is well behind and not moving as fast as SpaceX is to boot.
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Hopefully SpaceX burns through lots of money trying and failing to make data centers in space work
 
BlueAbyssal said:
Who do you think will be competing with him in the West, Martin? It will take years for anyone to match F9’s lift capacity, let alone what Starship is capable of. Competition is a good thing, but the competition is well behind and not moving as fast as SpaceX is to boot.
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Why do you limit competition to the West?
 
Because it’s not likely American or European payloads will launch aboard Chinese rockets, and vice versa, so it may as well be two separate worlds.
 
BlueAbyssal said:
Who do you think will be competing with him in the West, Martin? It will take years for anyone to match F9’s lift capacity, let alone what Starship is capable of. Competition is a good thing, but the competition is well behind and not moving as fast as SpaceX is to boot.
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First to market is rarely best to market - capitalism, baby!
 
BlueAbyssal said:
Because it’s not likely American or European payloads will launch aboard Chinese rockets, and vice versa, so it may as well be two separate worlds.
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I'd recommend to research the term "capitalism". Pure capitalism will always go to the lowest cost solution, political ideology be damned.
 
SpaceX share price is now down a quarter on its $160 IPO end of day price, doing a $25bn bond sale days after the share sale that led to an immediate $600bn drop in equity didn't help but it looks like a lot of the initial interest that saw its stock rise to a peak of $225.64 was based on AI mania rather than real interest in space activities. :rolleyes:
 
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exclaimedleech8 said:
I'm not putting my money where my mouth is, but I think SpaceX's market cap will fall to a few hundred billion. It should definitely be a fraction of Tesla's.
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Willkommen, bienvenue, welcome to the global oligarch casino! BYOB though...
 
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SpaceX will not be eligible to enter the index or the VOO fund until mid-2027 at the absolute earliest.

Because the S&P 500 index has strict rules requiring companies to trade for at least 12 months and pass profitability screens before inclusion, pretty sure they won't cut it even after that lockout.

Then again, they got fast tracked in the Nasdaq in record time 15 days.

And the stock has collapsed since.

Regards.
 
martinbayer said:
If you don't mind, please define precisely the socioeconomic environment you currently exist under to establish a common basis of discussion.
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A partially capitalist economy that has a vast government regulatory apparatus over it, and substantial government intervention in the economy.
 
BlueAbyssal said:
A partially capitalist economy that has a vast government regulatory apparatus over it, and substantial government intervention in the economy.
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Capitalism requires vast regulatory apparatus so that total strangers are willing to undertake commerce with each other without worrying about the other person scamming them. That's why it was such a disaster when the republics of the Former Soviet Union switched over from communism without clarifying rights of property ownership, securities, or consumer protection or establishing a professional judiciary.
 

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