The SpaceX is negotiating to raise US$ 40 billion to finance a large purchase of Nvidia chips and expand its artificial intelligence infrastructure, according to the Financial Times. The deal is led by Apollo Global Management and combines bank loans with investment-grade debt.
The plan foresees about US$ 10 billion in loans and another US$ 30 billion in investment-grade bonds. Apollo is expected to coordinate the fundraising and distribute part of the debt among investors, with completion expected in 2027.
The financing shows how the expansion of AI is increasing demand for capital for data centers and processors. Morgan Stanley estimates that global AI infrastructure will need US$ 1.5 trillion in external financing by 2028.
SpaceX expands its bet on Nvidia
The deal would reinforce SpaceX's dependence on Nvidia chips. Elon Musk said in August that the company had decided to build its data center infrastructure with the manufacturer's hardware, including the Vera Rubin architecture.
The expansion is also tied to Colossus 2, a data center used in the group's AI operations. Musk said in September that the facility could more than double its number of Nvidia chips by December.
SpaceX's ability to access the debt market increased after its IPO of US$ 86 billion, completed in June. The company received a BBB credit rating, expanding the universe of institutional investors able to buy its bonds.
Nvidia has also been expanding financing alternatives for its customers. In August, it announced an initiative with major asset managers and banks to mobilize more than US$ 500 billion in chip, data center and AI infrastructure projects.
