SpaceX Credit Risk Hits Record High on $40B Nvidia Chip Financing

The move matters less as a verdict on SpaceX's creditworthiness than as a signal of how bond and CDS markets are pricing a capital-intensive pivot toward AI infrastructure. A $40 billion chip-financing package would sit alongside existing leverage, and the widening of both CDS and the 2056 bonds from issuance levels suggests holders are repricing that added exposure rather than any operational setback. The open question is whether this financing is structured as debt or equity-linked, and whether the spread widening stabilizes once terms are disclosed.