Space Exploration Technologies Corp. (NASDAQ: SPCX) shares fell 2.17% to $168.18 in Wednesday premarket trading after the Financial Times reported that the company is seeking about $40 billion in debt financing to buy Nvidia artificial-intelligence chips.
The proposed financing would include about $30 billion in investment-grade bonds and $10 billion in bank loans, according to the report.
Apollo Global Management is expected to lead the transaction, while Pimco is among institutions that have held preliminary discussions about participating. The financing is expected to close in 2027.
Capital Spending Shows Scale of SpaceX’s AI Buildout
The reported borrowing would bring another layer of financing to an already capital-intensive expansion. In the first half of 2026, SpaceX recorded $28.476 billion in property, plant, and equipment purchases, up $21.511 billion, or about 309%, from $6.965 billion in the first half of 2025. That spending was about 8.2 times the company’s $3.466 billion in operating cash flow for the period.
SpaceX said the increase was driven mainly by spending on data centers and related infrastructure, along with space-launch facilities and supporting infrastructure.
Nvidia hardware was already central to that buildout. Elon Musk previously said SpaceX’s data centers would use Nvidia hardware exclusively, placing the reported chip financing within an existing AI infrastructure strategy.
Lock-Up Release Adds a Near-Term Supply Event
The financing news comes two days before another scheduled post-IPO event. Up to 328.4 million SpaceX shares are scheduled to become eligible for transfer on Oct. 9 under the Day-120 provision of the company’s staggered lock-up schedule.
The release removes transfer restrictions from the applicable tranche. It does not mean those shares will automatically be sold.
The scheduled event follows three consecutive regular-session gains. SPCX rose from $148.07 on Oct. 1 to $171.92 on Oct. 6, gaining about 16.1%, before Wednesday’s premarket pullback.
Separately, SpaceX Tokenized bStocks (SPCXB) was trading at $168.17, down 3% over the previous 24 hours, according to CoinMarketCap. SPCXB trades around the clock, unlike Nasdaq-listed SPCX. The percentage changes cover different trading periods. A direct comparison would therefore be misleading.
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