FT reports SpaceX seeking $40B in financing led by Apollo to buy Nvidia chips
What happened
The Financial Times reported late Tuesday (Oct 6), citing people familiar with the matter, that SpaceX plans to raise $40 billion in financing to fund purchases of Nvidia AI chips. The structure is about $10 billion in bank loans plus $30 billion in investment-grade debt, led by asset manager Apollo Global Management, with bond giant Pimco among a small group of lenders in talks; the transaction is expected to close in 2027. The $40 billion would amount to roughly all of SpaceX's projected $44.5 billion in 2026 revenue (FactSet), underscoring the scale of the bet. SpaceX shares fell ~2% in premarket trading Wednesday on the news, while Nvidia edged up 0.2-0.5%; SpaceX, Apollo, Nvidia and Pimco declined or did not respond to comment.
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Start your free 14-day trialWho’s affected
- NVDA (watchlist Mag 7; beneficiary — huge new chip order, shares +0.2-0.5%), SpaceX/SPCX (taking on ~$40B of new debt, nearly its full $44.5B projected 2026 revenue; shares -2% premarket on leverage/debt-funding concerns), Apollo/APO (leading the deal; bond investors may get exposure to a massive new IG issuance)