SpaceX falls after report of $40 bln financing push for Nvidia chips

Apollo Global Management

07/10/2026 09:40

** Shares of SpaceX SPCX.O fall 1.8% to $168.9 premarket
** Co plans to raise $40 bln to purchase Nvidia NVDA.O AI chips, the Financial Times reported citing people familiar with the matter
** Proposed funding, led by Apollo Global Management APO.N, reportedly includes ~$10 bln in bank loans and $30 bln in investment-grade debt to finance the chip order - FT
** Elon Musk-led co's move underscores the enormous capital required for the AI boom as tech firms race to build out computing infrastructure
** SpaceX, Apollo and Nvidia did not immediately respond to Reuters requests for comment
** 32 of 41 brokerages rate the stock "buy" or higher, six "hold" and three "sell" or lower; median PT is $217 - LSEG-compiled data
** As of last close, SPCX stock up 27.3% from its IPO price of $135

 (Reporting by Anand Gopal in Bengaluru)
 ((AnandGopal.R@thomsonreuters.com))