# SpaceX In Early Talks for ~$40B Debt, Led by Apollo, to Buy Nvidia Chips

Times of AI Desk · 2026-10-07 · Industry

[https://timesof.ai/2026/10/spacex-40b-debt-nvidia-chips-apollo](https://timesof.ai/2026/10/spacex-40b-debt-nvidia-chips-apollo)

> SpaceX is in early talks to borrow about $40 billion for Nvidia AI chips, the Financial Times and Bloomberg report. The FT, via Reuters, puts the structure at roughly $10B bank loans plus $30B investment-grade debt, with Apollo expected to lead and Pimco among lenders, targeting a 2027 close. Bloomberg independently confirms talks and Pimco interest, and stresses the discussions are early-stage and may not happen. The borrower is SpaceX — not xAI. No party has confirmed a deal.

One of the largest single debt packages yet floated to buy GPUs is still only a talk — and the borrower on the term sheet, if there is one, is **SpaceX**, not **xAI**.

The **Financial Times** reported on **October 6** that SpaceX plans to raise about **$40 billion** of debt to pay for Nvidia AI chips, citing people familiar. Reuters relayed the FT's structure: roughly **$10 billion** of bank loans and **$30 billion** of investment-grade debt, with **Apollo Global Management** expected to lead and place the debt. Bond manager **Pimco** is among a small group of lenders in talks, and the transaction is expected to close in **2027**.

**Bloomberg** separately reported, also citing people familiar, that SpaceX is in talks with banks and investors and that Pacific Investment Management is looking at the deal. Bloomberg said the discussions are at an **early stage** and **could end without a deal**. SpaceX, Apollo and Nvidia did not immediately respond; Pimco declined to comment to Reuters.

## Structure and market read

If the FT figures hold, three-quarters of the package would be investment-grade debt placed by a private-credit firm — chip purchases financed like infrastructure rather than out of equity or cash flow. That spreads AI-capex exposure into bond and private-credit portfolios at a moment when, Reuters notes, lenders are growing more cautious.

After-hours: SpaceX shares fell about **1%** (Reuters) / as much as **1.8%** (Bloomberg); Nvidia rose about **0.5%**.

## Context, carefully

SpaceX took itself public in June in a record **$86 billion** IPO, Reuters notes, and Musk has said the company will use Nvidia hardware exclusively for its data centres. After [SpaceX acquired xAI](https://timesof.ai/2026/02/spacex-acquires-xai), Colossus compute sits on the combined balance sheet — but this debt story's named borrower is **SpaceX**.

Bloomberg cites Musk's September claim that **xAI's Colossus 2** has **110,000 GB200s** and **440,000 GB300s**, with more due by year-end. Those chip counts are **Musk via Bloomberg**, not an audited inventory.

Apollo is among the firms Nvidia partnered with in August on financing platforms meant to mobilise more than **$500 billion** for AI infrastructure. Nothing we read places this SpaceX package inside that coalition.

## Limits

- **In talks / early stage / may not happen** — no party confirmation.
- **$10B / $30B split and Apollo lead** = FT figures (FT original not inspected; Reuters relay).
- Bloomberg confirms talks and Pimco independently; uses FT for structure.
- Borrower is **SpaceX**, not "xAI borrowing."
- Colossus 2 counts = Musk claims relayed by Bloomberg.

## Sources

- [Reuters via CNA: SpaceX seeks $40 billion financing led by Apollo to buy Nvidia chips, FT reports (October 6, 2026)](https://www.channelnewsasia.com/business/spacex-seeks-40-billion-financing-led-apollo-buy-nvidia-chips-ft-reports-6437756)
- [Bloomberg via The Business Times: Musk's SpaceX in talks to borrow US$40 billion to buy Nvidia chips (October 7, 2026)](https://www.businesstimes.com.sg/international/musks-spacex-talks-borrow-us40-billion-buy-nvidia-chips)
- [Times of AI: SpaceX acquires xAI (February 2, 2026)](https://timesof.ai/2026/02/spacex-acquires-xai)