SpaceX plans $40 bln financing push for Nvidia chips
SpaceX plans to raise $40 billion to purchase Nvidia AI chips, including $10 billion in bank loans and $30 billion in investment-grade debt, the Financial Times reported citing people familiar with the matter. Shares of SpaceX fell 1.8% to $168.9 premarket.
9 in premarket trade after the Financial Times reported the company plans to raise $40 bln to buy Nvidia AI chips, citing people familiar with the matter. The FT said the proposed financing, led by Apollo Global Management, would include about $10 bln in bank loans and $30 bln in investment-grade debt to fund the chip order. The report said the move highlights the large capital needs of the AI boom as technology companies rush to expand computing infrastructure. SpaceX, Apollo and Nvidia did not immediately respond to Reuters requests for comment.
compiled data showed 32 of 41 brokerages rate the stock "buy" or higher, while six rate it "hold" and three rate it "sell" or lower. The median price target is $217. 3% from its IPO price of $135.