SpaceX Seeks $40 Billion for Nvidia Chips
SpaceX is seeking to raise about $40 billion to finance a major purchase of Nvidia chips, according to the Financial Times. Apollo Global Management is leading the reported financing effort.
The proposed deal would combine roughly $10 billion in bank loans with $30 billion in investment-grade debt. Moreover, Apollo is expected to help distribute the debt among a broad group of investors. Pimco is reportedly among the lenders discussing the transaction.
The transaction could close in 2027, although SpaceX, Nvidia and Apollo have not publicly confirmed the reported terms. Pimco also declined to comment on the report.
The financing highlights the enormous capital requirements behind the current AI infrastructure buildout. In particular, advanced processors, data centres and power systems require increasingly large investments.
SpaceX Expands Its AI Computing Plans
SpaceX has been expanding beyond rockets and satellite services into large-scale computing infrastructure. The company plans to use Nvidia hardware exclusively in its data centres, according to CEO Elon Musk.
Musk has also outlined plans to expand AI computing capacity across his businesses. For example, he said in September that the Colossus 2 cluster could more than double its Nvidia chip count by the end of 2026.
Meanwhile, SpaceX secured an investment-grade BBB credit rating after its $86 billion initial public offering in June. That rating could broaden the pool of institutional investors able to purchase its debt.
However, SpaceX faces a higher cost of capital than the headline financing figure alone suggests. Its existing bonds have traded below face value amid concerns about debt and substantial capital spending.
The company has also faced questions about financial transparency. Therefore, the ability to secure large-scale debt financing will depend on investor confidence in its long-term cash generation and AI infrastructure plans.
Apollo and Nvidia Build AI Financing Networks
Apollo’s involvement also connects the proposed SpaceX financing to a broader push to fund AI infrastructure. In August, Nvidia announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR.
Together, those partnerships aim to mobilise more than $500 billion in third-party capital for AI infrastructure over time. The initiative focuses on financing Nvidia compute and related data centre investments.
Apollo has also led other large technology financing transactions. In June, the firm led a reported $35 billion financing deal involving chips from Broadcom, Nvidia’s rival.
Consequently, Apollo’s role in SpaceX’s reported financing aligns with a broader shift toward debt-backed investment in AI infrastructure. Companies increasingly need external capital to secure processors and build computing capacity at scale.
For SpaceX, the proposed $40 billion financing would represent another major step into the AI infrastructure market. At the same time, the reported structure shows how rapidly the economics of AI computing are moving toward large-scale corporate financing.
If completed, the transaction would give SpaceX additional funding for Nvidia hardware while strengthening its relationship with one of the industry’s dominant AI chip suppliers. However, the final financing terms and closing remain subject to further negotiations.
