Investing.com– SpaceX is seeking to raise $40 bln in an endeavor led by Apollo Global to buy Nvidia chips, the Financial Times reported on Tuesday, citing people familiar with the matter.
Elon Musk’s rocket and artificial intelligence firm is seeking to raise about $10 billion in bank loans and $30 billion in investment-grade debt for the order, with Apollo expected to lead the deal and help market the debt, the FT report said.
Pimco was among a small group of lenders in talks to fund the deal, the FT reported.
Not finding the right stocks? Our AI’s list of investor-grade stock picks for October just dropped »
The planned fundraise highlights the large sums that are being poured into data centers, chips, and other infrastructure needed to run AI.
SpaceX is closely tied to Nvidia, with Musk having earlier stated that it would exclusively use Nvidia chips in its Colossus data centers.
The rocket company, which folded in Musk’s xAI startup before its initial public offering earlier this year, powers its flagship Grok AI through Colossus.
The company also signed deals to rent out computing capacity from Colossus to other major AI developers, chiefly Anthropic and Alphabet’s Google.
Original Article
SpaceX seeks to raise $40 bln to buy Nvidia chips- FT
U.S. stock futures steady after tech rally lifts S&P 500, Nasdaq to records
LG Electronics shares drop as Q3 prelim earnings miss estimates