Elon Musk's SpaceX took out a $20 billion bridge loan last month.

Elon Musk's SpaceX took out a $20 billion bridge loan last month to refinance much of its existing debt ahead of its planned U.S. initial public offering, according to excerpts from a confidential regulatory filing. Bridge Loan Reshapes SpaceX Debt Stack Reuters on Thursday said the borrowing came from an unidentified syndicate of lenders and that SpaceX could be required to use IPO proceeds to repay the loan if it is not otherwise paid off within six months of the offering. The details appeared in a confidential S-1 filing, the form companies submit to the U.S. Securities and Exchange Commission before going public to outline their finances, operations and risks to prospective investors. The loan replaced five earlier debt facilities, including two term loans tied to Musk's social media platform X and three borrowings by xAI, his artificial intelligence company. As a result, SpaceX's total debt fell to $20.07 billion as of March 2 from $22.05 billion at the end of 2024. The report by Reuters noted that the bridge loan runs for 18 months and can be extended twice for three months, fitting the standard mold of short-term financing later replaced by longer-dated debt. IPO Push Raises Enormous Financial Stakes AI Expansion Adds Fresh Financial Pressure Photo: Thrive Studios ID via Shutterstock

Future spacecraft could use a single propellant to perform both rapid movements and slow, highly controlled adjustments.

The S&P 500 and Nasdaq indexes fell on Tuesday as a rebound in technology shares faded.

Alphabet entered a cloud service agreement with SpaceX to pay $920 million per month for 200 megawatts of capacity from October 2026 through June 2029.