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SpaceX is reportedly working to raise around USD 40 billion to buy Nvidia AI chips, as Elon Musk pushes the company deeper into artificial intelligence and data centres. The Financial Times reports that Apollo Global Management is expected to lead the financing effort.
The plan includes about USD 10 billion in bank loans and another USD 30 billion in investment-grade debt. Apollo would help arrange the funding and spread the debt among a wider group of investors. Pimco is also reportedly among the lenders in talks. The deal is expected to close in 2027.
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The size of this purchase shows how fast AI infrastructure costs are rising. Companies building large AI systems need huge computing power. That means buying advanced chips, building data centers, and securing supporting infrastructure, all of which cost enormous sums. Morgan Stanley estimates AI infrastructure could need USD 1.5 trillion in outside financing by 2028.
SpaceX has already said Nvidia hardware will sit at the center of its AI plans. Musk said the company will build only on Nvidia technology, naming Nvidia's Vera Rubin architecture as its preferred platform. He also said xAI's Colossus 2 data center could more than double its Nvidia chip count by December.
The financing push comes soon after SpaceX earned an investment-grade credit rating, following its USD 86 billion IPO in June. Still, some investors worry about the company's rising debt and heavy spending on capital projects. SpaceX bonds came under selling pressure after an earlier debt offering.
The deal would also deepen ties between SpaceX and Nvidia at a time when demand for AI computing keeps growing. Separately, Nvidia is working with major financial firms, including Apollo, BlackRock, and KKR, on financing platforms meant to raise more than USD 500 billion for AI infrastructure projects worldwide.
As AI spending accelerates across the industry, SpaceX's move signals how far companies are willing to go and how much they are willing to borrow to secure the chips driving the next phase of AI growth.
