SpaceX is seeking to raise approximately $40 billion to finance the purchase of artificial intelligence chips from Nvidia, with Apollo Global Management expected to lead the financing, according to a Financial Times report cited by Reuters. The proposed financing comes as Elon Musk-led SpaceX expands its artificial intelligence computing infrastructure and data-centre capacity.
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According to the reported financing structure, SpaceX is looking to raise approximately $10 billion through bank loans and a further $30 billion through investment-grade debt. Apollo is expected to lead the transaction and assist in placing the debt with a wider group of investors. Bond manager Pimco is among the institutions reported to be in discussions regarding the financing. The transaction is expected to close in 2027, although the reported financing remains subject to completion of the arrangements.
The proposed $40 billion financing is linked to SpaceX’s plans to acquire Nvidia’s advanced AI processors for its computing infrastructure. The reported transaction reflects the increasing capital requirements associated with the expansion of large-scale artificial intelligence computing capacity, where companies are investing heavily in high-performance chips and data centres.
SpaceX Seeks $40 Billion to Buy Nvidia Chips
The reported financing would consist of two principal components:
- $10 billion in bank loans
- $30 billion in investment-grade debt
- Total proposed financing: $40 billion
Apollo Global Management is expected to lead the financing and help distribute the debt among investors. Pimco is reported to be among a group of potential lenders involved in discussions concerning the proposed transaction.
The Financial Times report, cited by Reuters, said the financing is intended to fund purchases of Nvidia chips. SpaceX, Apollo and Nvidia had not immediately responded to Reuters’ requests for comment, while Pimco declined to comment on the report.
SpaceX Expands AI Computing Infrastructure
SpaceX’s reported financing requirement comes as the company expands its activities in artificial intelligence and computing infrastructure alongside its established space and satellite operations.
Elon Musk has previously indicated that SpaceX intends to use Nvidia hardware exclusively for its data centres. Musk also said last month that the Colossus 2 AI computing cluster operated by his xAI business could more than double its Nvidia chip count by December.
According to Musk’s statements reported by the Financial Times and Reuters, Colossus 2 had 110,000 Nvidia GB200 chips and 440,000 GB300 chips, with additional GB300 processors planned to become operational during the latter part of 2026.
The demand for Nvidia’s processors has increased as technology companies and AI developers build larger computing clusters to train and operate artificial intelligence models. The expansion has also increased the financing requirements associated with acquiring processors, constructing data centres and securing related power and infrastructure capacity.
Apollo’s Role in AI Infrastructure Financing
Apollo’s involvement in the reported SpaceX financing follows a broader partnership between Nvidia and major financial institutions to develop financing mechanisms for artificial intelligence infrastructure.
In August 2026, Nvidia announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to establish independent compute financing platforms. Nvidia said the platforms were intended to mobilise more than $500 billion of third-party capital over time for AI infrastructure development.
The Nvidia announcement said the financing platforms would provide dedicated pools of capital for Nvidia customers and support the development of large-scale AI infrastructure. The arrangements were described as mechanisms to broaden access to capital for AI factories and computing infrastructure.
Apollo President Jim Zelter said at the time that modern computing had emerged as a significant infrastructure asset and that the partnership with Nvidia and Apollo’s capital base would support the next stage of AI infrastructure development.
Growing Financing Requirements for AI Infrastructure
The proposed SpaceX financing comes amid a broader increase in capital expenditure on artificial intelligence infrastructure. Technology companies and AI model developers are committing substantial amounts to advanced processors and large data centres as demand for computing capacity increases.
Morgan Stanley has estimated that approximately $1.5 trillion of external financing may be required for AI infrastructure by 2028, according to Reuters’ report on the SpaceX financing. The estimate highlights the scale of capital requirements associated with the expansion of AI computing infrastructure.
The financing environment has also resulted in increasing use of debt and other structured funding arrangements to acquire computing equipment and develop data-centre infrastructure. The proposed SpaceX transaction would represent another large financing associated with the procurement of AI computing hardware.
SpaceX’s Capital-Market Activity
The reported financing follows SpaceX’s major capital-market activity earlier in 2026. According to Reuters, Musk took SpaceX public in June through an $86 billion initial public offering, described as a record IPO.
The company’s access to the investment-grade debt market has also become relevant to its financing plans. The Financial Times reported that SpaceX recently achieved a BBB credit rating, allowing a broader group of institutional investors, including insurance companies and pension funds, to purchase its debt.
SpaceX had previously accessed the bond market, although its capital expenditure requirements have attracted attention from investors. The company’s reported plan to raise $40 billion would therefore represent another substantial financing programme following its recent public-market activity.
Market Reaction
Following reports of the proposed financing, SpaceX shares fell by approximately 1% in extended trading, while Nvidia shares gained about 0.5%, according to Reuters. Other reporting indicated that SpaceX shares had declined as much as 1.8% after the Financial Times report, while Nvidia shares rose as much as 0.6%.
The proposed transaction remains a reported financing plan rather than a completed transaction. The reported structure involves approximately $10 billion in bank loans and $30 billion in investment-grade debt, with Apollo expected to lead the financing and the transaction expected to close in 2027.
The reported SpaceX financing illustrates the scale of capital being deployed toward AI computing infrastructure and Nvidia’s role as a major supplier of processors used in large-scale artificial intelligence systems. Nvidia’s separate financing partnerships with major global financial institutions are also aimed at mobilising substantial third-party capital for the expansion of AI infrastructure.
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