SpaceX seeks €34.5bn to buy Nvidia chips, with Apollo leading talks
SpaceX is discussing roughly €34.5 billion in financing to buy Nvidia AI chips, according to Reuters and the Financial Times. The proposed package is about €8.6 billion in bank loans and €25.9 billion in investment-grade debt, with Apollo expected to lead; the talks are preliminary and the deal is expected to close in 2027. For investors, it is a large test of how far lenders will fund the AI build-out as credit markets grow more selective.
Bottom line — If completed, SpaceX’s €34.5bn chip purchase would put more of the AI expansion bill on lenders and bond investors.
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Reuters reports that PIMCO is among the firms in discussions; Apollo and PIMCO declined to comment.
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CNBC says the financing is expected to rely mainly on investment-grade debt and may use the GPUs as collateral.
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SpaceX raised €21.6bn through a bond sale four months ago, CNBC reports; investors have since demanded higher yields for AI-related borrowing.
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MarketWatch cites analyst Richard Windsor’s estimate that SpaceX could spend as much as €246.8bn on Nvidia systems for data centres in 2027; that is an analyst projection, not a company forecast.
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The proposed financing remains at an early stage, Reuters reports, and could change or fail to proceed.