SpaceX Seeks $40 Billion in Financing to Buy Nvidia AI Chips

SpaceX is in talks with banks and asset managers to raise $40 billion for a large order of Nvidia artificial intelligence chips, according to two people familiar with the matter. The plan calls for about $10 billion in bank loans and $30 billion in investment-grade debt. PIMCO is reportedly part of the discussions, and Apollo is expected to lead the deal and help place the debt with a wide range of investors. SpaceX and Nvidia have not commented, while Apollo and PIMCO declined to comment. The sources asked not to be named because the deal is not yet public.

AI Infrastructure Funding Demand

The proposed raise shows how much capital the AI boom now requires as tech firms race to lock in advanced processors. Morgan Stanley estimates AI infrastructure will need $1.5 trillion in external financing by 2028, even as lenders grow more cautious. Musk, who took SpaceX public in June in a record $86 billion IPO, said last month that xAI’s Colossus 2 data center could more than double its Nvidia chip count by December, and that the company will use only Nvidia hardware for its data centers.

Market Reaction and Nvidia’s Financing Push

SpaceX shares fell about 2% in early trading, while Nvidia rose roughly 0.5%. In August, Nvidia teamed up with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR on financing platforms meant to mobilize more than $500 billion for AI infrastructure.