SpaceX and Nvidia Strengthen Ties as Musk Spends Big on AI Chips. What it Means for the Stock.

Dow Jones

1 hour ago

SpaceX and Nvidia are already strong allies. Now the two companies are set to tighten their links even more as Elon Musk's space-and-artificial intelligence company prepares to spend tens of billions on Nvidia's hardware.

SpaceX is aiming to raise $40 billion in funding to buy Nvidia chips, the Financial Times reported late Tuesday, citing people familiar with the matter. The amount is set to consist of about $10 billion in bank loans and $30 billion in investment-grade debt in a financing effort led by Apollo Global Management, according to the FT.

SpaceX didn't immediately respond to a request for comment early Wednesday. SpaceX shares were down 1.7% at $169.00 in the premarket.

Nvidia shares were up 0.3% in premarket trading at $239.99. The chip maker has broken through to record highs this week as its market valuation nears $6 trillion.

Musk recently set out plans for SpaceX's xAI business to have as many as 1.44 million Nvidia chips at its Memphis Colossus data-center complex before the end of the year. Musk previously said SpaceX would exclusively use Nvidia AI chips.

As Barron's recently noted, SpaceX's AI business -- set to be renamed "super intelligence" in line with President Donald Trump's preferred nomenclature -- is now expected to generate $60 billion in 2027 revenue, up from a July estimate of $38 billion. By 2031, Wall Street projects $530 billion in AI-related revenue.

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What it Means for the Stock.","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     <a href=\"https://laohu8.com/S/SPCX\">SpaceX</a> and Nvidia are already strong allies. Now the two companies are set to tighten their links even more as Elon Musk's space-and-artificial intelligence company prepares to spend tens of billions on Nvidia's hardware. \n</p>\n<p>\n     SpaceX is aiming to raise $40 billion in funding to buy Nvidia chips, the Financial Times reported late Tuesday, citing people familiar with the matter. The amount is set to consist of about $10 billion in bank loans and $30 billion in investment-grade debt in a financing effort led by Apollo Global Management, according to the FT. \n</p>\n<p>\n     SpaceX didn't immediately respond to a request for comment early Wednesday. SpaceX shares were down 1.7% at $169.00 in the premarket. \n</p>\n<p>\n     Nvidia shares were up 0.3% in premarket trading at $239.99. 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Now the two companies are set to tighten their links even more as Elon Musk's space-and-artificial intelligence company prepares to spend tens of billions on Nvidia's hardware. \n\n\n     SpaceX is aiming to raise $40 billion in funding to buy Nvidia chips, the Financial Times reported late Tuesday, citing people familiar with the matter. The amount is set to consist of about $10 billion in bank loans and $30 billion in investment-grade debt in a financing effort led by Apollo Global Management, according to the FT. \n\n\n     SpaceX didn't immediately respond to a request for comment early Wednesday. SpaceX shares were down 1.7% at $169.00 in the premarket. \n\n\n     Nvidia shares were up 0.3% in premarket trading at $239.99. 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