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SpaceX's $40B chip loan

Business · Heat 3.2 / 10 · 8 shows · 38m airtime

On October 7, 2026, Bloomberg reported SpaceX was in talks to borrow $40 billion for Nvidia chips, with $30 billion led by Apollo, less than two weeks after raising $25 billion in debt following its IPO. Musk now says the financing has closed, with funds arriving in the first and second quarters of next year, though the Apollo chip lease has no fixed rate set yet and starts in the first half of next year. The plan is to rent compute to AI rivals; Anthropic pays $1.25 billion a month, 26% of SpaceX revenue. Five-year credit default swaps rose to 194 basis points from 110 in June and price a 15% chance of default by 2031, though Bloomberg Intelligence says…

How 8 podcasts covered it

  1. Bloomberg Tech, 2026-10-07 (1:09 to 4:39)
    Breaks down the borrowing and the credit swaps
    Breaks the financing structure of SpaceX's $40 billion chip borrowing and the market reaction: $10 billion syndicated through banks, $30 billion led by Apollo, PIMCO possibly involved, and SpaceX credit default swaps at their highest since June.
    New angle: SpaceX is in talks to borrow $40 billion for Nvidia chips, $30 billion of it led by Apollo.
  2. Bloomberg Tech, 2026-10-07 (23:01 to 24:24)
    Adds a credit read on the chip financing
    Bloomberg Intelligence's Robert Schiffman gives a credit read on the $40 billion chip financing, saying CDS and bonds have barely budged and that SpaceX may need to raise a couple hundred billion more over the next few years.
    New angle: Bloomberg Intelligence says SpaceX CDS and bonds have barely budged, and SpaceX may raise a couple hundred billion more over the next few years.
  3. Bloomberg Surveillance, 2026-10-07 (7:20 to 7:58)
    Reports SpaceX's $40B chip financing
    Reports SpaceX is raising $40 billion to buy Nvidia chips, with Apollo leading a package of about $30 billion in investment-grade debt and $10 billion in bank loans; SpaceX shares fall pre-market.
    New angle: SpaceX is seeking $40 billion to buy Nvidia chips, with Apollo leading the debt financing.
  4. Closing Bell, 2026-10-07 (19:05 to 20:15)
    Reports $25 billion in new SpaceX debt
    Reports SpaceX has raised $25 billion in debt less than two weeks after its IPO, to buy Nvidia GPUs for data centers, and flags that the five-year CDS has blown out a little. A new figure and a new stage for the financing story.
    New angle: SpaceX has raised $25 billion in debt less than two weeks after its IPO.
  5. The Best One Yet, 2026-10-08 (6:04 to 11:27)
    Walks the chip loan through the economy
    Walks the $40 billion chip purchase through the whole economy: $27 billion of profit to Nvidia, most of the supply chain abroad, and the crowding-out effect on mortgages. Adds the rental plan and the fee structure.
    New angle: SpaceX plans to rent computing power to AI rivals like Anthropic and Google for a billion dollars a month.
  6. Prof G Markets, 2026-10-08 (2:28 to 19:41)
    Interviews Lex on the credit default swaps
    Interviews the FT's Lex columnist on the $40 billion chip financing and surfaces the market's answer: SpaceX five-year credit default swaps rose to 194 basis points on Wednesday, up from 110 in June, and the 50-year bonds trade near 85 cents on the dollar.
    New angle: SpaceX five-year credit default swaps rose to 194 basis points, from 110 in June.
  7. WSJ What's News, 2026-10-08 (3:28 to 4:52)
    Widens chip financing to Apollo and Blackstone
    Widens the SpaceX chip financing into a broader trend: Broadcom, Oracle and SpaceX are all raising tens of billions, and with bond markets saturated they are turning to Apollo, Blackstone and Goldman. Names the lenders in talks with cloud providers.
    New angle: Broadcom and Oracle are also in talks with Apollo, Blackstone and Goldman for chip financing.
  8. The AI Daily Brief, 2026-10-09 (3:51 to 5:51)
    Walks three chip financing deals
    Walks through three chip financing deals - Oracle with Apollo and Goldman, Broadcom with Apollo and Blackstone on $50 billion for OpenAI's custom chips, and SpaceX borrowing $40 billion for NVIDIA chips. Notes the SpaceX credit default swaps spike and the two-page deal memo that scared lenders off.
    New angle: SpaceX credit default swaps now price a 15% chance of default by the end of 2031.
  9. Squawk Pod, 2026-10-26 (3:12 to 6:15)
    Reports Musk says the chip financing closed
    Reports that Musk says the $40 billion chip financing has closed, with money arriving in the first half of next year, while Bloomberg says pricing talks continue and the debt sits in a special purpose vehicle off SpaceX's balance sheet.
    New angle: Musk says the $40 billion chip financing has closed, with funds arriving in the first and second quarters of next year.
  10. Bloomberg Tech, 2026-10-26 (22:23 to 24:31)
    Reports the $40 billion Apollo chip lease
    Reports Musk's statement that SpaceX closed a $40 billion equipment finance lease with Apollo Global for AI chips, and that a SpaceX filing leaves the fixed rate undetermined. Pairs it with Microsoft's buyout offer to 60,000 employees as another sign of AI spending strain.
    New angle: SpaceX's $40 billion Apollo chip lease has no fixed rate set yet and starts in the first half of next year.
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