AI cloud computing companies face ‘guppy-level death’, Elon Musk warns, as funding dries up – business live

Rolling coverage of the latest economic and financial news Bloomberg, intriguingly, are questioning Elon Musk’s claim that SpaceX has closed a $40bn debt deal to fund more chip purchases. They’ve heard that talks over the pricing of this deal are still ongoing, and report: As of late Sunday in New York, those conversations remained ongoing and the deal hadn’t priced, people with knowledge of the discussions said. The parties are still working on finalizing the debt package in the coming days, the people said. As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers. SpaceX closed $40B of debt for GPUs, but we’re investment grade and have Starlink & launch revenue. 9am: IFO German business climate 11am: CBI distributive trends survey of UK retail Continue reading...