SpaceX reportedly seeks $40B in Apollo-led debt to pay for a giant Nvidia chip order
The Financial Times reported on Tuesday, citing people familiar with the matter, that the package would combine roughly $10 billion of bank loans with about $30 billion of investment-grade bonds. Apollo is expected to lead and place the debt with a wide group of investors, and bond manager Pimco is among a small set of lenders in talks. SpaceX shares slipped 1% after hours while Nvidia rose 0.5%. Elon Musk took SpaceX public in June in an $86 billion IPO and said last month that xAI's Colossus 2 site could more than double its Nvidia chip count by December, using Nvidia hardware exclusively. Morgan Stanley estimates AI infrastructure will need $1.5 trillion of outside financing by 2028, and Nvidia set up financing platforms with Apollo, BlackRock, KKR and others in August. For founders, this is another sign that frontier compute is now funded like utilities and aircraft fleets, with private credit carrying the load. Lenders who commit tens of billions to a single buyer's GPUs shape how much capacity and pricing reaches everyone else.
