TSX:IREN 30 December 2025

June 30, 2026, 11:36 AM EDT. SpaceX raised $86 billion in its IPO, then moved quickly to sell $25 billion in debt to pay back a bridge loan used for its xAI purchase. The debt sale came in above early targets, with strong demand from investors. The company's capex keeps climbing, especially for AI work, hitting $10.1 billion in the first quarter, up more than twofold from last year. SpaceX continues to burn cash as it pushes major projects like space-based data centers and Mars rockets, so it's leaning on both the equity and debt market to fund expansion. The stock's high price and the company's frequent trips to the market mean investors face ongoing risks.