SpaceX in talks to raise US$40bil for Nvidia chips
A Financial Times report says SpaceX is seeking US$30 billion through new debt and US$10 billion in bank loans.
Elon Musk's SpaceX is seeking to raise US$40 billion in financing to purchase AI chips from Nvidia, according to a Financial Times report. This comes just four months after SpaceX's own US$86 billion IPO, signaling strong demand for AI chip purchases among tech firms. The report, citing sources close to the talks, states that SpaceX aims to secure US$30 billion through new debt issuance and US$10 billion in banking loans.
The move follows a surge in Nvidia shares, pushing the company's market valuation close to US$6 trillion. Analysts note that the substantial borrowing by AI firms is now competing with sovereign issuances for investor capital, contributing to rising government debt yields worldwide and increasing borrowing costs for countries and companies.
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