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SpaceX's total liabilities have risen to approximately $23 billion by the end of 2025.
Mars Finance News April 22 – According to SpaceX’s publicly disclosed prospectus, as of the end of 2025, its total liabilities are approximately $23 billion, compared to $14 billion in 2024, an increase of nearly two-thirds. This sharp rise in debt mainly stems from the acquisition of artificial intelligence company xAI. The document shows that a significant portion of the new debt ($4.5 billion) comes from a leasing agreement reached with Valor Equity Partners, with the funds used to purchase chips and other AI infrastructure for xAI, and recorded as debt on the balance sheet. SpaceX openly admits in the risk warning section of the prospectus that its high debt levels could adversely affect its financial condition. (Broad Perspective)