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It feels like we were only here a week ago when it came to Nvidia. This idea. You have a lot of cash. Why tap the bond market? What does it mean for SpaceX to be going into this arena? Yeah, because SpaceX has also confirmed that as of June 19th, sitting on more than $100 billion of cash anyway. But for them, it's kind of like a treasury management issue. They're going to use this inaugural bond sale to, uh, pay down and refinance existing debt. Um, but there's a big longer term view, which is that space X is many, many light years away from positive free cash flow. And they are going into a world where
they're going to have to spend incredibly aggressively. Um, and this is just one mechanism to keep that balance sheet in the order that they, they will need for all of the projects that they outlined in the prospectus. Yeah. I mean, the SpaceX as, uh, um, we heard from Bruce Richards, I think early last week is just the biggest rising star out there. They had debt at, uh, more than 12%, and they've managed to cut that to four. I'm guessing this will be, uh, around there as well.
What's the story with the Microsoft Chevron deal. It doesn't have the hype or the excitement of SpaceX, but it's a pretty big number. Yeah, eight. It's 2.6GW ramped up to overtime starting in 2028. But for natural gas. And so like this is, um, both a kind of sort of common sense story where Microsoft has this commitment of doubling its data center footprint over the next couple of years for this project in West Texas, they are basically saying, okay, we'll use natural gas as the energy source, even over turbines. Uh, is the technology of the power generation. And it's all local. It's all localized.
But, you know, like 2.6GW is massive. You know, that's the power consumption of the city of San Francisco, uh, for example. So, um, Microsoft has kind of been this place where it's walked back prior commitments to sourcing renewable energy or matching the procurement of renewable energy to its use. Um, and then Bloomberg's done some reporting about this so that it's natural gas is super interesting. But you're right that Chevron's kind of feeling the benefit of this story, a lot of this was in the prior Bloomberg reporting.
