SpaceX reportedly in early talks to borrow $40B, led by Apollo, to buy Nvidia AI chips
The Financial Times first reported the talks on Tuesday, and Bloomberg followed, citing people familiar with the matter. Apollo Global Management would reportedly lead the deal and sell the debt on to other investors, and Pimco is among the lenders in discussions. Bloomberg called the talks early and said they could still end without a deal, while the FT's sources expect completion in 2027. None of the companies has confirmed the plan. The chips would go into SpaceX's AI data centers, which Elon Musk has said will use only Nvidia hardware. He has also said the Colossus 2 site could more than double its Nvidia chip count by December. SpaceX rents out capacity as well: Google agreed to pay about $920M a month for roughly 110,000 Nvidia GPUs. In August, Nvidia set up financing platforms with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR. For AI companies, GPU purchases are increasingly paid for with investment-grade debt. That ties compute supply to credit markets and favors buyers that can borrow at scale.
