SpaceX is currently in talks with financial institutions and investors to secure $40 billion (€35.7 billion) in financing for the purchase of Nvidia hardware, according to The Financial Times.
This potential move would represent one of the largest debt-financed investments in the development of artificial intelligence infrastructure to date. Reports indicate that the company aims to obtain $10 billion (€8.9 billion) through bank loans and a further $30 billion (€26.8 billion) through investment-grade bonds.
Apollo Global Management is reportedly taking the lead in the financing, with an expected completion date in 2027. One of the companies exploring this possibility is Pacific Investment Management Co.
However, these discussions are still in a preparatory phase and will not necessarily lead to a final agreement.
Companies allocate billions for data centres
This effort is part of a broader trend in which AI developers and technology companies are borrowing huge sums to set up gigantic data centres. This sharp increase in demand for computing power has driven up the prices of semiconductor chips, land and energy infrastructure.
For example, a consortium led by Broadcom Inc. is reportedly arranging $60 billion (€53.6 billion) in financing to support companies such as Anthropic PBC.
Elon Musk has previously hinted at an aggressive expansion of his xAI venture. He recently stated that the Colossus 2 computing cluster in Memphis could more than double his current stock of Nvidia chips by the end of the year.
Musk gave details of a rollout plan involving hundreds of thousands of GB200 and GB300 chips, with several parties expected to become operational between now and December.
Apollo supports xAI and other Nvidia clients
The synergy between Musk’s ventures and financial giants is already clearly visible. Apollo has previously provided 7 billion dollars (6.2 billion euros) in financing to xAI to enable the leasing of chips for the Colossus 2 site.
In addition, Apollo is part of a larger group of investment firms, including BlackRock and Goldman Sachs, which entered into a partnership with Nvidia in August to set up massive capital funds so that Nvidia’s key clients can afford the necessary infrastructure.
Although Nvidia and SpaceX have not yet commented on these specific talks, the news led to a slight drop in SpaceX’s share price after the market closed. Nvidia’s share, by contrast, remained relatively stable.
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