SpaceX seeks $40 billion to buy Nvidia chips, FT reports
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Elon Musk, CEO of Tesla and SpaceX and owner of X, formerly known as Twitter, and Nvidia CEO Jensen Huang shake hands during National Design Studio's launch event for America.gov, a new AI-powered government website, at the Mellon Auditorium in Washington
Oct 6 (Reuters) - SpaceX is seeking to raise $40 billion in a financing effort led by asset manager Apollo Global Management to purchase Nvidia chips, the Financial Times reported on Tuesday, citing people familiar with the matter.
The Elon Musk-led company is seeking to raise about $10 billion in bank loans and $30 billion in investment-grade debt to fund its chip order, the report said.
Apollo is expected to lead the deal and help sell the debt to a broad range of investors, with bond fund Pimco among lenders in talks to finance the transaction, FT reported.
The transaction is expected to close in 2027, according to the report.
SpaceX, Apollo, Nvidia, and Pimco did not immediately respond to Reuters requests for comment.
(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Diti Pujara)
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