Business

SpaceX secures $40B in financing for GPUs as Elon Musk warns of AI cloud industry consolidation

Fox Business·Oct 26, 2026 · 12:09 AM CT
Read the original at Fox Business
Readthrough summary

Elon Musk said SpaceX has closed $40 billion in debt financing to buy GPUs for its AI operations. He credited its investment-grade rating and Starlink and launch revenue, and warned that debt markets have largely shut off money to companies whose only revenue is AI data centers.

Summary written by Readthrough from the original article. The full story, with photos and any updates, is at Fox Business.

Read the original at Fox Business

More Business

NPR Business·

AI giant Anthropic files for an IPO that could break records

Anthropic, maker of the Claude AI models, filed its public S-1 registration with the SEC on Monday for an IPO under the ticker ANT. Reports say the listing could value the company at $1.5 trillion to $2 trillion, putting it alongside SpaceX, which listed in June at about $1.8 trillion. The prospectus did not give a share count or price range.

CNBC·

Trump says he'll soon decide whether to ‘make a deal’ with Iran or ‘finish it off'

President Trump told Fox News he is nearing "decision time" on whether to make a deal with Iran or "finish it off," as Qatari mediators visited Tehran and Houthi attacks on Saudi Arabia continued. The last confirmed U.S. strikes on Iran were Sept. 1, and Trump has said they won't resume until after the Nov. 3 midterms; Tehran says it is preparing a military response.

Fox Business·

JetBlue creditors hire advisors as financial concerns grow: report

A group of JetBlue's senior creditors has reportedly hired investment bank PJT Partners and law firm Akin as the airline's financial pressures mount. JetBlue's roughly $2 billion in secured notes due 2031 fell to about 42 cents on the dollar Thursday, down from near 80 cents last month, as rising fuel costs complicate its turnaround.

CNBC·

Fanatics teams up with OpenAI for new AI-powered shopping suggestion feature

Fanatics has launched "Shop the Look," an AI shopping feature built with OpenAI's Codex that suggests items from its catalog of more than 1.5 million products. The company says shoppers routinely spent over 30 minutes per session searching its sites, and the tool is meant to help them find matching merchandise faster.