Gotrade News - SpaceX (SPCX) is seeking $40 billion in financing led by Apollo Global Management to buy Nvidia AI chips, the Financial Times reported on Tuesday (Oct. 6), as Nvidia (NVDA) trades within about 4% of becoming the first $6 trillion company. SpaceX shares slipped 1% after hours.
As reported by Reuters via Investing.com, the package would combine about $10 billion in bank loans with $30 billion in investment-grade debt, and the transaction is expected to close in 2027.
Per Seeking Alpha, the raise shows the AI and rocket group amplifying its bet on the chipmaker's advanced technology.
SPCX, APO and NVDA Market Data
Ticker | Close | Daily change | Market cap | 52-week range |
|---|
SPCX | $171.92 | +0.49% | $2.33 trillion | $104.83 to $225.64 |
APO | $115.95 | +0.52% | $68.5 billion | $99.56 to $153.29 |
NVDA | $239.24 | +0.14% | $5.77 trillion | $164.27 to $243.37 |
Regular-session close on October 6, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against Nasdaq's official close. Market cap: Nasdaq, as of October 7, 2026.
SpaceX (SPCX): $10B Loans Plus $30B Investment-Grade Debt
According to Reuters, citing the Financial Times and people familiar with the matter, the Elon Musk-led company plans to fund its Nvidia chip order through roughly $10 billion of bank loans and $30 billion of investment-grade bonds.
SpaceX plans to use Nvidia hardware exclusively for its data centers, and xAI's Colossus 2 facility could double its chip usage by December, the same report said.
The deal comes a few months after Musk took SpaceX public in June with an $86 billion initial public offering, per Reuters. SpaceX shares fell 1% in extended trading after the report, while Nvidia rose 0.5%.
Deal term (per FT, via Reuters) | Detail |
|---|
Total financing sought | $40 billion |
Bank loans | About $10 billion |
Investment-grade debt | $30 billion |
Lead arranger | Apollo Global Management |
Lenders in talks | Small group including Pimco |
Expected close | 2027 |
Use of proceeds | Nvidia AI chips |
Apollo Global (APO) to Lead and Place the $40B Debt
Apollo is expected to lead the deal and help place the debt with a broad range of investors, with bond fund Pimco among a small group of lenders in talks to provide financing, according to Reuters.
The role extends Apollo's push into AI infrastructure lending: in August, Nvidia partnered with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR on financing platforms designed to mobilize more than $500 billion for AI infrastructure projects, the report added.
For Apollo Global Management (APO), the mandate lands in a market where demand for capital is rising: Reuters cited a Morgan Stanley estimate that AI infrastructure will require $1.5 trillion in external financing by 2028.
Nvidia (NVDA): About 4% From a $6 Trillion Market Cap
Per The Motley Fool, Nvidia notched a fresh record close on Oct. 5, leaving its market value at roughly $5.8 trillion, about 4% from the $6 trillion mark. The company first crossed $4 trillion on July 9, 2025, and $5 trillion on Oct. 29, 2025, the outlet noted.
The rally rests on fundamentals the chipmaker reported in August. According to The Motley Fool, fiscal second-quarter revenue rose 106% year over year to $96.2 billion and adjusted EPS grew 120% to $2.22, while management guided fiscal third-quarter revenue of around $108 billion, plus or minus 2%.
The SpaceX financing is so far a press report citing people familiar with the matter, and the transaction is not expected to close until 2027, per Reuters.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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