SpaceX seeks $40 billion in Apollo-led financing to buy NVIDIA chips

SpaceX is reportedly lining up one of the largest compute-purchasing financings to date. According to the Financial Times, as relayed by The Information, the company wants $40 billion in a round led by Apollo Global Management, earmarked for NVIDIA chips. The structure reportedly combines about $10 billion of bank loans with about $30 billion of other financing, and closing is expected in 2027.

The structure matters as much as the size. Debt-heavy GPU financing, where chips serve as collateral or loans are backed by expected compute revenue, has become a defining feature of the 2026 AI buildout. Private-credit firms like Apollo are increasingly the lenders. That moves AI infrastructure risk from equity investors to credit markets, a shift some analysts have flagged as a systemic concern if GPU utilization or resale values fall.

The strategic purpose is not spelled out in the source, but it fits a pattern of companies outside the traditional hyperscalers buying their own frontier-scale compute. It also feeds NVIDIA's momentum: options markets currently price a 50% chance the chipmaker crosses $6 trillion in market cap by October 31.

Caveats: this is a report of fundraising intent, not a closed deal, and a 2027 close leaves a long window for terms to change. Watch for confirmation from SpaceX or Apollo, details on what the compute is for, and whether other private lenders follow with similar chip-backed facilities.