SpaceX is reportedly in negotiations to raise $40 billion to finance a major purchase of Nvidia AI chips. The proposed deal structure includes $10 billion in bank loans and $30 billion in investment-grade debt. Apollo is expected to lead the transaction, with participation from lenders such as Pimco, and a potential closing date in 2027.
The company previously raised $85.7 billion in its June IPO, which valued the firm at nearly $1.8 trillion. Following the IPO, SpaceX sold $25 billion in bonds to refinance debt related to its xAI acquisition. As of June 19, the company reported holding approximately $101 billion in cash.
SpaceX reported capital expenditures of $10.1 billion in the first quarter of 2026, with $7.72 billion allocated to AI projects. In 2025, the company recorded $18.7 billion in revenue and a loss of $4.9 billion. CFO Bret Johnsen indicated that the company does not plan to sell further shares, making debt the primary financing route.
Nvidia remains a key supplier and shareholder in SpaceX, holding approximately 122.8 million Class A shares. Nvidia has also established financing partnerships with firms like Apollo, BlackRock, and Blackstone to mobilize over $500 billion for AI infrastructure. By July 26, Nvidia's total equity investments reached approximately $99 billion.
