SpaceX seeks $40 billion to buy Nvidia chips, FT reports

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.