Musk Says SpaceX Has Closed Its $40 Billion Debt Deal for AI Chips

Elon Musk says SpaceX has closed $40 billion in debt financing to buy the graphics processing units that power artificial intelligence systems, completing a financing effort that was first reported earlier this month.

“This is primarily callable debt for GPU purchases that will arrive in Q1 and Q2. Not a major factor this quarter,” Musk said in a post on X, according to Reuters on October 25. He added that the company’s investment-grade status and revenue from its Starlink satellite internet and launch businesses had helped preserve its access to credit.

From reported plan to closed deal

Reuters reported on October 6, citing the Financial Times, that SpaceX was seeking to raise $40 billion in a financing effort led by asset manager Apollo Global Management to purchase Nvidia chips. The plan, according to that report, was to raise about $10 billion in bank loans and $30 billion in investment-grade debt to fund the chip order. Apollo was expected to lead the deal and help sell the debt to a broad range of investors, with bond fund Pimco among lenders in talks to finance the transaction.

The transaction was expected to close in 2027, according to the October report. Musk’s October 25 post indicates the debt financing itself has now closed, with the GPU deliveries arriving in the first and second quarters.

SpaceX, Apollo, Nvidia and Pimco did not immediately respond to Reuters requests for comment on the original October 6 report.

Why a rocket company is buying AI chips

SpaceX is best known for rockets and for Starlink, its satellite internet business. The chip purchase signals how central artificial intelligence has become to Musk’s companies, which span rockets, satellites, electric vehicles and AI development.

Graphics processing units, or GPUs, are the chips that train and run large AI models. Demand for them has driven a massive buildout of data centers and a wave of debt and equity financing across the technology industry, as companies race to secure computing capacity.

For SpaceX, the financing also shows how its revenue base has changed. Starlink and launch revenue, Musk said, helped the company keep its investment-grade credit standing — a rating that makes large-scale borrowing cheaper and more accessible. Reuters noted SpaceX holds a BBB credit rating.

The scale of the bet

Forty billion dollars is a large sum even by the standards of the current AI investment boom. It puts SpaceX alongside the biggest corporate borrowers in technology, and it ties a significant part of the company’s balance sheet to the delivery and deployment of AI hardware in early 2027, based on Musk’s stated delivery window.

The debt is described by Musk as primarily callable, meaning SpaceX would have flexibility to repay it early under agreed terms. That structure matters for a private company taking on investment-grade debt at this scale, because it preserves options if chip prices, AI demand or interest rates shift.

What Musk did not say in the post is how the GPUs will be deployed — whether for SpaceX’s own satellite and launch operations, for AI training, for data-center capacity, or across his other ventures. That detail, along with the final terms of the debt, has not been publicly disclosed.

A busy month for AI financing

The SpaceX deal lands in a month of intense AI-related financial news. Apollo Global Management chief economist Torsten Slok published a note on October 24 arguing that AI has delivered “zero financial payoff” to corporate America outside the technology sector, according to AI news roundups of the week. That skepticism sits alongside record spending by technology companies on chips and data centers.

For now, the market’s verdict on SpaceX’s move is indirect: the company is private, so there is no public share price to track. But the fact that $40 billion in debt could be raised and closed for GPU purchases is itself a signal of how much credit markets are willing to fund the AI buildout — and how much of that buildout is now being driven by companies that did not start out as AI companies at all.

Sources: Reuters, “Musk says SpaceX raised $40 billion in debt for GPUs” (Oct. 25, 2026) and “SpaceX seeks $40 billion to buy Nvidia chips, FT reports” (Oct. 6, 2026).