SpaceX is in preliminary discussions to secure approximately $40 billion in debt financing. The proposed package consists of $10 billion in bank loans and $30 billion in investment-grade bonds. Apollo Global Management is expected to lead the placement, with PIMCO among the potential lenders. The deal is projected to close by 2027.
The company intends to use the funds to purchase Nvidia chips for its data centers, specifically to expand the Colossus 2 AI cluster. SpaceX aims to increase the cluster's chip count by December 2026. Because the financing is expected to close in 2027, the company may utilize existing cash reserves from previous fundraising rounds to bridge the timeline for hardware acquisition.
This potential debt follows a series of major capital raises over the past four months. In June 2026, SpaceX completed an IPO that raised between $85.7 billion and $86 billion, followed by a $25 billion bond sale that attracted nearly $90 billion in orders. Combined with the new proposal, the total capital raised would exceed $150 billion.
SpaceX reported an estimated revenue of $18.7 billion last year, primarily driven by its Starlink satellite internet business. The company currently holds an investment-grade credit rating. Analysts note that the strategy relies on the assumption that AI compute capacity will generate sufficient future revenue to justify the debt load.
