SpaceX seeks $40 billion in Apollo-led financing to buy Nvidia chips
The proposed borrowing would fund a major expansion of SpaceX's AI computing capacity, while ongoing talks highlight the huge financing demands behind the race for chips.
By Hushread Stories, written with AI from 15 outlets · First published 7 Oct 2026
In brief
- SpaceX is seeking $40 billion in financing to buy Nvidia chips for its artificial intelligence plans.
- Apollo would lead the financing, which remains under discussion rather than a reported completed deal.
- The company is talking with banks and investors about borrowing the money for the chip purchase.
- Reports describe a debt package involving loans and bonds to support SpaceX's planned spending on chips.
- The outstanding questions are whether financing is secured and what terms banks and investors will accept.
Timeline · 5 moments
SpaceX shares fall as Musk's wealth drops $21 billion
Forbes ↗Yorkville Ives gives proposed chip borrowing a favorable assessment
Breaking News on Seeking Alpha Business & Economy ↗Report describes proposed borrowing through loans and bonds
n-tv.de - Wirtschaft ↗Banks and investors enter reported SpaceX financing discussions
elEconomista.es ↗SpaceX seeks Apollo-led financing for $40 billion chip purchase
Financial Times ↗How it started
The proposed deal came to light on October 6, when the Financial Times reported that SpaceX was seeking $40 billion to buy Nvidia chips through financing led by Apollo. The report described a debt deal, not a completed purchase.
The purpose is to expand SpaceX's artificial intelligence capabilities. Le Monde described the planned borrowing as financing chips for the company's data centers, putting computing infrastructure at the center of the investment.
How it unfolded
On October 6, Bloomberg Technology relayed the initial report, naming Apollo Global Management Inc. as the proposed financing leader and Nvidia Corp. as the chip supplier.
On October 7, MarketWatch reported that SpaceX was in talks with banks and investors to borrow the $40 billion, citing the initial reporting. elEconomista.es also described discussions with banks and investors to finance SpaceX's own artificial intelligence development.
The same day, n-tv.de - Wirtschaft reported that the proposed funding would involve loans and bonds. That adds detail about the contemplated structure, but does not establish that lenders have committed the money.
Reaction included a favorable assessment from Yorkville Ives, whose description of the borrowing as a "smart, strategic move" appeared in Seeking Alpha. Separately, Forbes reported that SpaceX shares fell 2% on Wednesday morning after the financing reports, reducing Elon Musk's wealth by $21 billion.
Where it stands
As of October 7, the deal remained in talks. Bloomberg Technology reported that SpaceX was discussing the $40 billion financing with banks and investors. The supplied coverage does not establish that the debt has been secured or the chips purchased.
The amount fits a broader spending surge. Business Line reported that technology companies and AI model developers are investing and borrowing hundreds of billions of dollars to build and lease large data centers filled with chips that power AI systems.
What to watch
The next concrete milestone is an agreement on financing. The talks reported by MarketWatch leave open who will supply the money, what borrowing terms SpaceX will accept and whether the full $40 billion will be raised.
The purchase itself is another pending step. The coverage does not give a confirmed chip delivery schedule or a timetable for bringing the additional computing capacity into use.
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