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 ‌centres, computing ⁠hardware and power infrastructure.

The ⁠senior unsecured notes will be issued across 5-year, 7-year, 10-year, 20-year, 30-year periods. 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.