SpaceX is looking to raise roughly $10 billion through bank loans and another $30 billion through investment-grade debt, according to the Financial Times. Apollo Global Management is expected to lead the financing, while Pimco is among the investors discussing participation.
The deal is still at an early stage and is expected to close in 2027 if completed.
SpaceX’s AI Expansion Is Becoming More Capital Intensive
The financing would deepen SpaceX’s shift beyond rockets and Starlink into large-scale AI infrastructure.
The company has already signed major contracts to sell compute capacity to outside customers. A Google compute agreement gives Google access to roughly 110,000 Nvidia GPUs for $920 million per month.
SpaceX later signed another contract worth about $1.11 billion per month, strengthening management’s confidence in its target of reaching a $100 billion annualized revenue run rate. The new AI compute deal shows why additional GPU capacity has become strategically important.
That creates a straightforward financing loop: SpaceX borrows billions to buy Nvidia hardware, deploys that hardware into data centers, and then attempts to recover the investment through long-term compute contracts.
AI Borrowing Has Jumped From $20B to $88B
SpaceX’s proposed financing comes as debt is becoming a much larger part of the AI investment cycle.
AI-related borrowing in the U.S. leveraged-finance market has risen from about $20 billion in early 2025 to $88 billion in 2026, an increase of roughly 340%, according to Reuters.
That does not include SpaceX’s planned package, which is investment-grade financing rather than the leveraged-finance segment behind the $88 billion figure. But both illustrate the same broader shift: AI infrastructure increasingly requires external capital rather than only corporate cash.
Coinpaper previously reported how AI infrastructure debt is spreading across GPU providers, data-center operators and other companies building capacity ahead of expected demand.
