SpaceX is reportedly chasing a $40 billion Nvidia chip financing package. The number alone makes it one of the boldest bets of the AI buildout. Reuters, citing two sources, says the company is in talks with banks and asset managers to raise the money. The Financial Times reported it first.
No one has signed anything. SpaceX, Nvidia and Apollo have not confirmed the talks publicly. Every detail here comes from anonymous sources, so treat it as a reported negotiation, not a done deal.
What the SpaceX Nvidia Chip Financing Package Looks Like
The package is a mix of two kinds of debt. About $10 billion would come as bank loans. The other $30 billion would be investment-grade debt, according to Reuters. A Reuters source confirmed the FT’s earlier figures.
That is why “loan” does not quite tell the whole story. This SpaceX Nvidia loan is really a layered structure built to reach a lot of different lenders. Bloomberg says the amount could reach as much as $40 billion.
Quartz reports that Apollo Global Management should lead. Pimco is among a small group of lenders in talks, per Quartz. Apollo would also help place the debt with a broad range of investors. Sources expect the deal to close in 2027.
Early Talks, Not a Finished SpaceX $40 Billion Debt Deal
Bloomberg calls the talks early-stage and says they could end without a deal. Still, it would rank among the biggest debt financings tied to the AI buildout.
Some outlets have run headlines saying SpaceX “secured” the money. The major reports do not back that up. They describe negotiations, and nothing more. Any claim that the SpaceX $40 billion debt is locked in runs ahead of the facts. Until a signed deal appears, the SpaceX Nvidia chip financing remains a proposal.
Key details are also missing. Reporters have not uncovered chip volumes, pricing, interest rates or most of the lender list. So far, sources name only Apollo and Pimco.
Why Nvidia Chips, and Why Now
SpaceX went public in June in a record $86 billion IPO. It trades on Nasdaq as SPCX. Since then, Musk has kept the AI spending pedal down. Last month he said the xAI-run Colossus 2 data center could more than double its Nvidia chip count by December, as Reuters noted.
Apollo is no stranger to this playbook. It earlier arranged a $7 billion financing for xAI to access Nvidia chips for Colossus 2 in Memphis. It was also one of six firms that partnered with Nvidia in August. Those firms are building financing platforms meant to mobilize more than $500 billion for AI infrastructure.
In other words, this deal is a familiar crew running a familiar play, only at a much bigger scale. The SpaceX Nvidia chip financing simply puts a larger number on an established model.
How Wall Street Reacted to the SpaceX AI Chip Debt
The market response was mild. Reuters reported SpaceX shares were down about 2% in early trade, while Nvidia rose roughly 0.5%. Quartz noted a smaller dip of about 1% in extended trading the night before. Those are different time windows, so the exact closing move is unclear.
Analyst Dan Ives of Yorkville called the financing “firepower for [SpaceX’s] AI buildout,” according to Yahoo Finance. Investors, in short, seem to see the SpaceX AI chip debt as a growth story, not a red flag.
The Bubble Question
Not everyone is cheering. Bloomberg paired the story with Ray Dalio’s warning that AI is a “classic bubble.” He also warned that rising rates could hurt it. Morgan Stanley, meanwhile, estimates AI infrastructure will need $1.5 trillion in external financing by 2028. Lenders, however, are growing more cautious.
A $30 billion investment-grade offering from one borrower would also compete for investor cash. Analysts note that heavy AI debt supply is already pushing Treasury yields higher. As a result, the SpaceX Nvidia chip financing could land in a crowded market.
What to Watch Next in the SpaceX Chip Financing Talks
With a 2027 close expected, there is no quick finish line. For now, the signals to track are simple. Watch for an official statement from SpaceX, Apollo or Nvidia. Then look for the full lender group, the pricing, and how hungry investors really are for the debt.
Until then, one fact stands out. Musk is reportedly asking for $40 billion in a market full of AI nerves. Serious lenders are still at the table, and the SpaceX Nvidia chip financing story is far from over.
