SpaceX seeks $40bn for Nvidia chips, FT reports

SpaceX is aiming to raise $40 billion in bank loans and debt to expand its purchases of Nvidia AI chips, the Financial Times reported, citing sources close to the talks.

The report said Elon Musk's company was seeking $30 billion from issuing new debt and $10 billion in bank loans. SpaceX and Nvidia did not comment on the report.

The possible fundraising comes amid strong demand from technology companies for chips to support artificial intelligence projects. Analysts cited by AFP said borrowing by AI companies is increasingly competing with government debt issuance for investor capital, contributing to higher borrowing costs.