SpaceX Seeks $40 Billion to Buy Nvidia AI Chips by 2027

SpaceX is pursuing a $40 billion financing package, led by Apollo Global Management, to place orders for Nvidia artificial intelligence processors, Reuters reported, citing people familiar with the matter. The plan would combine roughly $10 billion in bank loans with about $30 billion in investor debt.

According to Reuters, the move underscores the intense capital demand in the AI hardware market as major technology firms compete for advanced processors and build large data centers. Morgan Stanley estimates that AI infrastructure will require about $1.5 trillion in external capital by 2028, though lenders and investors are approaching such projects with greater caution.

Details of the Apollo and Pimco financing

Apollo is expected to steer the transaction and syndicate the debt among a group of investors. The investment firm Pimco is named among a small set of lenders that have entered negotiations to finance the agreement. People familiar with the talks told Reuters they expect the deal to be completed in 2027.

After the report surfaced, SpaceX shares slipped about 1 percent in after-hours trading, while Nvidia stock rose approximately 0.5 percent.

Elon Musk, who took SpaceX public in June, said last month that the Colossus 2 data center run by his xAI unit could more than double its count of Nvidia processors by December. He has said the company plans to rely exclusively on Nvidia hardware for its compute infrastructure.

Nvidia, the world’s largest supplier of AI processors, launched in August a broad collaboration with financial platforms including Apollo, BlackRock, Goldman Sachs and KKR aimed at supporting more than $500 billion in AI infrastructure projects.