SpaceX seeks $40 billion financing led by Apollo to buy Nvidia chips, FT reports

Business Recorder, citing a Financial Times report, said SpaceX is seeking $40 billion in financing led by Apollo Global Management to purchase Nvidia AI chips. The Elon Musk-led company is reportedly looking to borrow about $10 billion through bank loans and $30 billion through investment-grade debt.

The funding plan underscores the vast capital needs tied to the AI boom, as technology companies race for advanced processors and computing infrastructure. Morgan Stanley expects outside financing for AI infrastructure to reach $1.5 trillion by 2028, while lenders and investors become warier of backing the expansion.

Pimco, a bond fund, is reportedly among a handful of lenders negotiating to supply funds, with completion anticipated in 2027. SpaceX shares slipped 1% in after-hours trading following the report, while Nvidia stock gained 0.5%.