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SpaceX increased its debt load by nearly two-thirds last year, to about $23 billion at the end of 2025 from $14 billion the year prior.
Key facts
SpaceX increased its debt load by nearly two-thirds last year, to about $23 billion at the end of 2025 from $14 billion the year prior
Much of the debt was tied to a lease deal with Valor Equity Partners for AI infrastructure equipment such as chips for xAI, which SpaceX recorded as $4.5 billion of debt on its balance sheet