SpaceX is looking to raise about $10 billion in bank loans and $30 billion in investment-grade debt for a large Nvidia chip order, according to the Financial Times, citing people familiar with the matter. Apollo is expected to lead the deal and help place the debt with a broad investor base, with bond manager Pimco among a small group of lenders in talks. The transaction is expected to close in 2027.
The financing would fund data-center buildout tied to Elon Musk’s AI ambitions. SpaceX went public in June in a record $86 billion IPO, and Musk said last month that xAI’s Colossus 2 data center could more than double its Nvidia chip count by December, with the company planning to use Nvidia hardware exclusively for its data centers. Shares of SpaceX fell about 1 percent in extended trading after the report; Nvidia rose half a percent.
The deal sits inside a much larger financing wave: Morgan Stanley estimates AI infrastructure will need $1.5 trillion in external financing by 2028, and Nvidia in August partnered with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR on financing platforms intended to mobilize more than $500 billion for AI infrastructure projects.