SpaceX Raised About $86 Billion in Its June IPO and $25 Billion in Bonds 11 Days Later — Now It Is Seeking $40 Billion of Debt to Buy Nvidia Chips, Likely Backed by the Chips, From a Seller That Owns 122.8 Million SpaceX Shares

SpaceX is in talks with banks and asset managers to raise about $40 billion to buy Nvidia AI chips, according to the Financial Times and two sources who spoke to Reuters: roughly $10 billion of bank loans and $30 billion of investment-grade bonds, with Apollo expected to lead and place the debt and Pimco among a small group of lenders in talks; the FT says the deal is expected to close in 2027. A source told CNBC the debt will likely be secured by the GPUs themselves. Bloomberg says the talks are at an early stage and could end without a deal; SpaceX, Nvidia and Apollo did not comment and Pimco declined to. The request follows SpaceX's record IPO in June, about $86 billion including the over-allotment at $135 a share, and a $25 billion investment-grade bond sale 11 days later, mainly to repay a $20 billion bridge loan: about $151 billion sought in four months. The seller owns part of the buyer: Nvidia's Form 13F for June 30, 2026 lists 122,764,805 SpaceX Class A shares worth $20.98 billion, about $20.6 billion at the Oct 7 close of $167.60. On Wednesday, Oct 7, SpaceX fell 2.5% from $171.92 and Nvidia 0.7% to $237.47, on a day the Nasdaq Composite slipped 0.2%, Treasury yields rose, oil neared $100 and the Fed published its September minutes; the card attributes neither move.