SpaceX in talks to raise $40bn to buy Nvidia chips, reports say
In short
SpaceX is negotiating to raise about $40 billion in debt to buy Nvidia chips and expand its AI computing infrastructure, according to Financial Times and Bloomberg reports cited by Russian outlets. About $10 billion would come as bank loans and $30 billion from investment-grade bonds, with Apollo Global Management expected to organise the deal and closing targeted for 2027. The talks are at an early stage and may end without an agreement, and neither SpaceX, Nvidia, Apollo nor Pimco has commented.
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SpaceX, the company owned by Elon Musk, is in talks to raise about $40 billion in financing, most of it debt, to buy chips from Nvidia and expand the computing infrastructure behind its artificial intelligence projects, according to Financial Times and Bloomberg reports relayed by Russian outlets. RBC and TASS reported the plan, while Vedomosti and Interfax carried the financial detail. [ 1 , 2 , 3 , 4 , 5 ]
Under the reported structure, roughly $10 billion would come as bank loans and $30 billion from the sale of investment-grade bonds. Apollo Global Management is expected to organise the financing and place the securities with a wide group of investors, and Pimco may also take part. Closing is expected in 2027. [ 1 , 3 , 5 ]
The talks are at an early stage and may end without an agreement, iXBT reported and Interfax repeated, citing Bloomberg. iXBT also said SpaceX shares fell 1.83% in over-the-counter trading after the news appeared; no other document reported a share move. Apollo and Pimco declined to comment to the Financial Times, while SpaceX and Nvidia did not respond to its request, Vedomosti reported. [ 1 , 3 , 5 ]
The financing follows earlier cooperation between the two companies. In August SpaceX announced a partnership with Nvidia to develop Starmind AI1 satellite computing modules equipped with Nvidia Rubin graphics processors and Vera central processors, aimed at delivering data-centre-level computing power in orbit, Vedomosti reported. iXBT described an exclusive agreement covering Blackwell-architecture chips for space data centres. In September, Musk said SpaceX planned to begin launching Nvidia supercomputers into space in 2027, according to Vedomosti. [ 1 , 3 ]
Musk also said last month that SpaceX would more than double the number of Nvidia chips in its Colossus 2 AI cluster by the end of the year, Interfax reported, citing Bloomberg; the cluster currently holds 110,000 Nvidia GB200 and 440,000 Nvidia GB300 processors, he said. [ 5 ]
The reported debt programme would be SpaceX's second large financing operation in months. On 11 June the company held what iXBT described as the largest IPO in history, raising $75 billion at a valuation of about $1.77 trillion. Vedomosti reported that in June SpaceX also began placing five tranches of bonds worth at least $25 billion to fund AI development. Interfax, citing Bloomberg, placed the move in the wider context of IT and AI companies spending hundreds of billions of dollars on data centres, often with borrowed money, including up to $42 billion in loans that Broadcom is to provide to the AI startup Anthropic. [ 1 , 3 , 5 ]
Why it matters
The reported sum is one of the largest single debt operations tied to AI hardware and would deepen SpaceX's reliance on borrowed money, which iXBT said raises questions about future cash flow and payback on AI infrastructure. For the chip supply chain, it signals continued demand for Nvidia accelerators from buyers beyond conventional data-centre operators. All documents rely on unnamed sources and company spokespeople have not confirmed the plan, so the outcome remains open.
Key facts
- SpaceX is negotiating to raise about $40 billion, most of it debt, to buy Nvidia chips and expand AI computing infrastructure. [ 1 , 2 , 3 , 5 ]
- About $10 billion is expected to come from bank loans and about $30 billion from investment-grade bonds, according to Financial Times-sourced reports. [ 1 , 3 , 5 ]
- Apollo Global Management is expected to organise the financing, and Pimco may take part, with closing targeted for 2027. [ 1 , 3 , 5 ]
- The talks are at an early stage and may end without an agreement. [ 1 , 5 ]
- Apollo and Pimco declined to comment to the Financial Times, while SpaceX and Nvidia did not respond to its request, Vedomosti reported. [ 3 ]
- In August SpaceX announced a partnership with Nvidia on Starmind AI1 satellite compute modules using Nvidia Rubin GPUs and Vera CPUs. [ 3 ]
- iXBT reported that SpaceX shares fell 1.83% in over-the-counter trading after the financing news. [ 1 ]
- SpaceX held an IPO on 11 June that raised $75 billion and valued the company at about $1.77 trillion, iXBT reported. [ 1 ]
Confirmed by several sources
- SpaceX is seeking about $40 billion, largely to buy Nvidia chips, according to reports attributed to Financial Times and Bloomberg. [ 1 , 2 , 3 , 4 , 5 ]
- The financing is expected to consist of roughly $10 billion in bank loans and $30 billion in investment-grade bonds, with Apollo Global Management organising and closing expected in 2027. [ 1 , 3 , 5 ]
- The negotiations are at an early stage, the documents say. [ 1 , 5 ]
- SpaceX and Nvidia have an existing cooperation on space-based computing announced in August. [ 1 , 3 ]
Still unclear
- Whether the financing will be completed. iXBT and Interfax, citing Bloomberg, say the talks are at an early stage and may end without an agreement; SpaceX has not commented.
- Which Nvidia chips the purchase covers. iXBT mentions an exclusive agreement on Blackwell-architecture chips, while Vedomosti describes the August partnership as using Nvidia Rubin GPUs and Vera CPUs for Starmind AI1 modules.
- The reported 1.83% fall in SpaceX shares in over-the-counter trading. This figure appears only in iXBT and is not reported by any other document.
- Company confirmation of the financing terms. Apollo and Pimco declined to comment and SpaceX and Nvidia did not answer questions, per Vedomosti; the figures rest on unnamed sources.
What local media are saying
Timeline, local time
- iXBT reports SpaceX is negotiating about $40 billion in debt financing to buy Nvidia accelerators, and says its over-the-counter shares fell 1.83%. [ 1 ]
- RBC reports SpaceX plans to raise $40 billion to buy Nvidia chips. [ 2 ]
- Vedomosti, citing the Financial Times, details the $10 billion loan and $30 billion bond split, Apollo's role, Pimco's possible participation and a 2027 closing. [ 3 ]
- TASS carries the Financial Times report, saying the deal aims to strengthen cooperation as Musk plans wider use of Nvidia technology. [ 4 ]
- Interfax, citing Bloomberg, reports the talks with banks and investment firms and notes they may end without result. [ 5 ]