SpaceX and Oracle borrow to buy chips as Samsung earns 80 billion dollars in one quarter: who pays the AI bill?

Over two days, SpaceX, Broadcom and Oracle negotiated loans to buy AI chips. Headlines combined them into “more than 90 billion dollars”, although Oracle’s deal alone had no disclosed amount. We read the borrowers’ disclosures and used EL7 data to measure the cost of this debt and the Treasury yield at its highest close since 2002: borrowers spend more cash than they generate, while suppliers report record profits.

Billion dollars in headlines: Broadcom and SpaceX deals only; Oracle’s deal has no disclosed amount

6.19%

Yield on BBB-rated corporate bonds on 6 October, up from 4.86% a year earlier

107.4

Trillion won in Samsung’s preliminary Q3 operating income, about 80 billion dollars

84.70

Cents on the dollar for SpaceX’s 2056 bond on 7 October, down from 98.83 at issuance

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EL7 Research · AI and Credit

8 October 2026 · Prices as of the 7 October close