SpaceX First Bond Offering Sparks Selloff as Futures Volume Tops $3.2B
SPCX•SpaceX launched its inaugural bond offering to finance its AI infrastructure build-out, prompting a sell-off in its shares over concerns about rising borrowing costs. Its pre-IPO perpetual futures contracts have generated approximately $3.2 billion in trading volume and $390 million in open interest from May 17 to June 10.
1. Inaugural Bond Offering
SpaceX launched its first-ever bond offering to fund its AI infrastructure build-out and other capital expenditures, marking its entry into public debt markets.
2. Negative Stock Reaction
The company’s share price slid following the announcement as investors weighed higher borrowing costs against anticipated returns on AI investments.
3. Robust Pre-IPO Futures Activity
SpaceX’s pre-IPO perpetual contracts recorded about $3.2 billion in trading volume and $390 million in open interest between May 17 and June 10, reflecting strong speculative demand for the company’s future equity.
