SpaceX [Reuters=Yonhap News]

About ten days after its record-breaking Initial Public Offering (IPO), Elon Musk's aerospace company SpaceX is now venturing into the bond market.

The U.S. daily Wall Street Journal (WSJ) and Bloomberg News reported on the 22nd (local time) that SpaceX announced its first corporate bond issuance, holding a conference call with investors that day.

According to sources, the bond issuance is expected to be at least $20 billion (approximately 30.7 trillion Korean won), with maturities ranging from 5 to 30 years.

In March, SpaceX utilized bridge loans to refinance debt from X (formerly Twitter) and xAI, which it inherited, and the amount due within six months is $20 billion.

The company plans to use the proceeds from the long-term bond issuance to repay this debt and use any remaining funds for general corporate purposes.

Adam Sahan, CEO of 50Park Investments, explained, "Choosing to issue corporate bonds instead of stock is to avoid diluting shareholder value."

SpaceX raised $85.7 billion through its IPO and is estimated to already have over $100 billion in cash reserves.

However, with investors readily investing in AI-related company bonds amid the recent AI craze, SpaceX appears to be capitalizing on this trend to increase its available funds.

Oppenheimer's Timothy Horan and his analyst team predict that SpaceX will accumulate $400 billion in net debt by 2031, a figure three times the debt of Oracle.

SpaceX is also generating cash flow through its non-financial businesses.

According to CNBC, on the same day, the company signed a contract with the open-source AI startup Reflection AI to provide computing power, receiving $150 million per month and a total of $6.3 billion by 2029.

SpaceX is building its AI infrastructure, the Colossus 2 data center, and through contracts, has provided computing power to companies like Anthropic and Google.