Elon Musk’s SpaceX is reportedly seeking $40 billion in financing in a deal led by private equity firm Apollo Global Management. The company plans to use the funds to buy advanced AI chips from Nvidia, marking a major investment in AI infrastructure.
The proposed package includes about $10 billion in bank loans. It also includes $30 billion in investment-grade debt.
The deal reflects the large sums companies are committing to data centers and computing power for advanced AI development. The transaction is expected to close in 2027.