[Musk: The debt market financing environment is clearly differentiated and new cloud vendors are expected to usher in a wave of large-scale consolidation and bankruptcy] On October 26, SpaceX CEO Elon Musk posted on the X platform on Sunday Eastern Time that SpaceX has completed US$40 billion in debt financing and the funds will be used to purchase GPUs. Musk pointed out that the current financing environment in the debt market has clearly differentiated. "As long as a company does not have considerable revenue independent of AI data centers, it is basically difficult to obtain financing." Based on this, he predicted that new cloud vendors would usher in a wave of large-scale consolidation and bankruptcy. He later stated that SpaceX would not acquire any new cloud vendors, calling the move "meaningless." Unlike large comprehensive cloud vendors covering many industries, new cloud vendors such as Nebius and CoreWeave are mostly oriented to technology customers and provide computing resources specifically designed for AI. Currently, the market has begun to be bearish on new U.S. cloud and data center companies. The market is worried that the model of such companies relying on debt to expand AI computing power is not sustainable, and this has triggered a sell-off in the sector.