SpaceX is in discussions with major financial institutions and asset managers to buy $40 billion in financing to purchase artificial intelligence (AI) processors from NVIDIA Corp., underscoring extraordinary capital demands of the ongoing AI infrastructure boom.
Elon Musk’s aerospace manufacturer is seeking approximately $10 billion in bank loans alongside $30 billion in investment-grade debt, according to The Financial Times, according to sources familiar with the matter.
Alternative asset manager Apollo Global Management is expected to lead the transaction and help distribute the debt across a broad group of institutional investors. Investment manager PIMCO is also among a select group of lenders in talks to participate in the financing.
The deal, which sources note remains private and is expected to close in 2027, highlights how mega-cap tech enterprises are increasingly leaning on debt markets to fund unprecedented hardware expansions.
Neither SpaceX nor NVIDIA immediately responded to requests for comment, while Apollo and PIMCO declined to comment on the negotiations.
The multibillion-dollar acquisition aligns directly with Musk’s strategy to scale compute capacity rapidly. Musk, who took SpaceX public in June in a historic $86 billion initial public offering, previously confirmed that the enterprise intends to rely exclusively on NVIDIA hardware for its data center developments.
Last month, Musk revealed that the Colossus 2 data center facility is positioned to more than double its inventory of Nvidia chips by December to accelerate high-performance training workflows.
The capital push comes as the broader technology industry turns heavily to credit markets to finance server capacity and next-generation graphics processing units (GPUs). Major tech firms issued approximately $200 billion in investment-grade debt during the first half of 2026 alone — nearly double the total issuance for all of 2025.
Wall Street analysts expect the spending trend to persist. JPMorgan Chase projects that AI capital expenditures across major hyperscalers could expand from $700 billion this year to $1 trillion by 2027. Meanwhile, Morgan Stanley estimates that total AI infrastructure expansion will require $1.5 trillion in external debt and equity financing by 2028.
To support these capital-intensive rollouts, Nvidia partnered in August with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to establish dedicated financing platforms intended to mobilize over $500 billion for global AI infrastructure projects.
Following reports of the debt package, SpaceX shares slipped 2% in early morning trading before closing Tuesday down 0.49% at $171.92, dropping an additional 1.15% to $169.94 in extended trading. NVIDIA shares rose 0.5% in early trading.
Despite the minor pullback, technical analytics from Benzinga Edge indicate that SpaceX stock continues to maintain a positive price trend across short-, medium-, and long-term horizons.
