SpaceX Seeks $40 Billion Debt Package to Fund Nvidia Rubin AI Chips
The proposed financing package, reportedly led by Apollo Global Management, would fund hundreds of thousands of next-generation Nvidia AI accelerators.
Key takeaways
- SpaceX is in preliminary discussions to raise $40 billion across bank loans and investment-grade debt to purchase Nvidia AI chips.
- Apollo Global Management is expected to lead the debt transaction, with bond manager Pimco among the lenders evaluating the deal.
- If completed in 2027, the funding could buy roughly 5,000 Vera Rubin NVL72 rack systems containing approximately 360,000 AI accelerators.
- The borrowing follows heavy capital expenditures and aggressive growth in SpaceX's compute-leasing agreements with Anthropic and Google.
SpaceX is in early discussions with banks and institutional investors to assemble a $40 billion debt package aimed at acquiring Nvidia AI chips, according to reports from the Financial Times and Bloomberg. The proposed transaction would mark one of the largest debt financings ever arranged for artificial intelligence infrastructure.
The proposed structure divides the capital into approximately $10 billion in direct bank loans and $30 billion in investment-grade debt, as reported by qz.com. Alternative asset manager Apollo Global Management is expected to lead the transaction, with Pacific Investment Management Co. (Pimco) also reviewing participation. Discussions remain at an early stage, with closing targeted for 2027 if a formal agreement is reached.
Financing Terms and Nvidia Rubin Hardware Scale
The targeted capital would go directly toward procuring next-generation processors built on Nvidia's Vera Rubin architecture. According to analysis by Tom's Hardware, SpaceX and affiliated venture xAI have historically purchased integrated rack-scale systems rather than loose accelerators.
Assuming the procurement focuses on Vera Rubin NVL72 turnkey racks priced at around $8 million per unit, $40 billion in financing would secure roughly 5,000 racks housing approximately 360,000 Rubin AI accelerators. Elon Musk stated during SpaceX's second-quarter earnings call that the enterprise has decided to build its infrastructure exclusively on Nvidia systems, identifying Vera Rubin as the strongest computing platform for its needs, according to The Motley Fool. SpaceX projects its cumulative compute capacity to reach roughly 10 gigawatts before the close of 2027.
Expanding Cloud Compute Revenue and xAI Operations
The planned chip acquisition supports a rapidly scaling AI compute-leasing business operated alongside rocket launches and satellite services. SpaceX has entered multiple multi-billion-dollar cloud hosting agreements, including a deal providing Anthropic access to 325,000 GPUs for $1.25 billion per month through May 2029, and a contract with Google delivering access to 110,000 GPUs for $920 million monthly through June 2029, as reported by The Motley Fool.
Additional agreements include a $150 million monthly deal with Reflection AI for Nvidia GB300 systems located inside the Colossus 2 data center in Memphis, alongside an unidentified hosting customer paying $1.1 billion per month beginning in December. Together, these contracted services support SpaceX's stated target of achieving a $100 billion annualized revenue run rate by late 2026, according to qz.com. According to Musk, the Colossus 2 facility currently operates 110,000 GB200 chips and 440,000 GB300 chips, with plans to more than double that total.
The Broader Shift Toward AI Debt Financing
Tapping credit markets has become a primary method for tech operators to manage high infrastructure costs. SpaceX spent $18.4 billion on capital expenditures in the second quarter of 2026 alone, recording negative free cash flow of $25 billion over the first half of the year as it simultaneously funded AI data centers, Starship development, and Starlink deployments, reports The Motley Fool.
Private credit platforms have moved aggressively into this space. Apollo previously structured a $7 billion financing arrangement for xAI to deploy Nvidia hardware, and Nvidia itself formed compute financing platforms in August alongside Apollo, KKR, Blackstone, BlackRock, Brookfield, and Goldman Sachs to unlock more than $500 billion in third-party capital, as detailed by qz.com. Major cloud hyperscalers issued $194 billion in bonds through early July, with Goldman Sachs Asset Management projecting those companies could issue an additional $420 billion in debt during 2027.
While representatives for SpaceX, Apollo, and Nvidia have not publicly commented on the ongoing negotiations, the talks illustrate how debt syndication has become foundational to acquiring large fleets of high-performance compute hardware.
Frequently asked questions
What Nvidia AI chips is SpaceX seeking to buy?
The debt financing is intended to fund hardware built on Nvidia's Vera Rubin architecture, potentially encompassing around 5,000 Vera Rubin NVL72 server racks containing approximately 360,000 AI accelerators.
How is the $40 billion financing package structured?
According to reporting from the Financial Times, the proposed package consists of roughly $10 billion in bank loans and $30 billion in investment-grade debt, with Apollo Global Management expected to lead the transaction.
When is the debt deal expected to close?
Talks remain preliminary and subject to change, but if completed, the transaction is expected to close in 2027.
Who are SpaceX's existing AI compute customers?
Disclosed contracts include compute-leasing agreements with Anthropic ($1.25 billion per month), Google ($920 million per month), Reflection AI ($150 million per month), and an undisclosed customer contracted for $1.1 billion per month.
Sources
- SpaceX reportedly seeking $40 billion debt package for Nvidia AI hardware — massive raise could fund roughly 360,000 Vera Rubin GPUs across 5,000 NVL72 racksTom's Hardware · Oct 8, 2026
- SpaceX in Talks to Borrow $40 Billion to Buy Nvidia ChipsBloomberg · Oct 6, 2026
- SpaceX seeks $40 billion in debt financing for Nvidia AI chipsqz.com · Oct 7, 2026
- SpaceX Reportedly Wants $40 Billion to Buy Artificial Intelligence (AI) Chips. Here's Why That's Huge News for Nvidia Investors.The Motley Fool · Oct 7, 2026
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Published October 9, 2026 at 01:19 UTC
