SpaceX is currently in early-stage negotiations to secure $40 billion in debt financing. The proposed structure includes $10 billion in bank loans and $30 billion through investment-grade bonds. Apollo Global Management may lead the deal, with a target completion date in 2027. Following the news, SpaceX shares fell by 1.83% in off-exchange trading.
The primary objective of this capital raise is to purchase Nvidia accelerators to expand the company's computing infrastructure. This follows an exclusive agreement signed in August regarding the use of Blackwell architecture chips for building space-based data centers. Analysts note that such a significant debt load raises questions about future cash flow and the long-term payback period for these AI investments.
This debt program follows a major milestone for the company earlier this year. On June 11, SpaceX completed a historic IPO, raising $75 billion and achieving a market valuation of approximately $1.77 trillion. The current negotiations remain preliminary and could still conclude without a final agreement.
