TLDR
- SpaceX is working to raise $40 billion to fund a large order of Nvidia AI chips, according to the Financial Times.
- The financing package is expected to include $10 billion in bank loans and $30 billion in investment-grade debt.
- Apollo Global Management is leading the effort, with Pimco among the lenders reportedly in talks to help fund it.
- SpaceX stock dropped in premarket trading while Nvidia stock climbed to fresh record levels this week.
- Musk’s xAI business is projected to bring in $60 billion in revenue by 2027, up from an earlier estimate of $38 billion.
SpaceX stock slipped 2% in premarket trading Wednesday after a report that the company is lining up $40 billion in financing to buy Nvidia chips. Nvidia stock, meanwhile, ticked higher and remains close to a $6 trillion market valuation.
Space Exploration Technologies Corp., SPCX
The Financial Times reported late Tuesday that SpaceX is working with lenders on a massive funding package tied to its AI chip orders. The report cited people familiar with the matter.
About $10 billion of the total is expected to come from bank loans. The remaining $30 billion would be raised through investment-grade debt.
Apollo Global Management is said to be leading the financing effort. Pimco is reportedly among a small group of lenders in talks to help fund the deal.
SpaceX did not immediately respond to a request for comment. Apollo and Nvidia also stayed quiet when contacted by Reuters.
The deal is reportedly expected to close sometime in 2027. That timeline gives a sense of just how far out Elon Musk is planning his chip supply chain.
Musk’s AI Chip Push
Musk has made clear that Nvidia hardware is the only option for his AI buildout. He’s said SpaceX will use Nvidia chips exclusively across its data centers.
BREAKING: SpaceX, $SPCX, is in talks with banks and investors to raise $40 billion of debt to buy chips from Nvidia amid "insatiable demand" among AI developers, per Bloomberg.
The company is seeking to raise about $10 billion in bank loans and $30 billion in investment-grade…
— The Kobeissi Letter (@KobeissiLetter) October 7, 2026
That commitment is already showing up at scale. Musk recently outlined plans for the Colossus data center complex in Memphis to house as many as 1.44 million Nvidia chips by the end of the year.
The AI arm of SpaceX, previously known as xAI, is reportedly being renamed “super intelligence.” That’s a nod to the phrase favored by President Trump.
Revenue expectations for that business have jumped too. Wall Street now expects $60 billion in 2027 revenue, up from a July estimate of $38 billion.
Longer term, projections get even bigger. Analysts see the AI business pulling in $530 billion in revenue by 2031.
Wider Financing Context
The size of this deal says a lot about what it now costs to compete in AI. Morgan Stanley estimates the industry will need $1.5 trillion in outside financing by 2028.
That’s happening even as some lenders grow more careful about how much they’re willing to pour into AI infrastructure. Big checks like this one aren’t a given anymore.
Nvidia has been building out financing partnerships of its own to keep pace with demand. In August, it teamed up with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR on platforms meant to mobilize more than $500 billion for AI infrastructure.
SpaceX went public in June through an $86 billion IPO, one of the largest on record. Musk has said the Colossus 2 data center could more than double its Nvidia chip count by December.
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