Elon Musk's SpaceX said ​on Tuesday it ⁠has launched a five-tranche notes offering to ‌raise at least $25 billion, as the newly public company ​seeks funding for its capital-intensive AI expansion.

SpaceX's AI ambitions carry ​a hefty ​price tag, requiring tens of billions of dollars in investment in data centers, computing hardware ⁠and power infrastructure.

The senior unsecured notes will be issued across 5-year, 7-year, 10-year, 20-year, 30-year tenors. Proceeds will be used to repay borrowings under ​its ‌bridge loan facility ⁠as ⁠well as for general corporate purposes.

The offering, which is SpaceX's ​first investment-grade dollar bond issuance, has ‌drawn nearly $85 billion in ⁠orders, a source familiar with the matter told Reuters. 

Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Morgan Stanley are managing the sale, according to a document seen by Reuters.

Credit rating agencies assigned the company investment-grade ratings last week, signaling confidence in SpaceX's financial stability as it ‌moves forward with its costly AI plans.

The ⁠rockets-to-AI firm's shares rebounded on ​Tuesday, following a recent selloff tied to a broader tech pullback, after a blockbuster debut on ​June 12.

(Reporting ‌by Nupur Anand in New York ⁠and Juby Babu ​in Mexico City; Editing by Vijay Kishore)