SpaceX Stock Drops After Hours as Elon Musk-led Company Seeks $40 Billion to Buy Nvidia Chips

Space Exploration Technologies Corp. (NASDAQ:SPCX) is reportedly planning to raise $40 billion in bank loans and investment-grade debt, led by Apollo Global Management(NYSE:APO) , to buy Nvidia Corp. (NASDAQ:NVDA) chips. Seeks $10 Billion in Loans, $30 Billion in Debt The Elon Musk-led company is looking to raise about $10 billion in bank loans and $30 billion in investment-grade debt for the chip order, Reuters News reported, citing the Financial Times. Apollo is expected to lead the deal and help place the debt with a broad range of investors, with Pimco among a small group of lenders in talks to provide financing, the newspaper reported citing people familiar with the matter. The transaction is expected to close in 2027.