SpaceX (NASDAQ:SPCX | SPCX Price Prediction) is putting together one of the largest chip fundings ever attempted, and the credit market has already responded. Reuters reported that SpaceX is seeking $40 billion in financing to buy chips from NVIDIA (NASDAQ:NVDA), citing people familiar with the matter, according to CNBC. CNBC reported that Apollo Global Management (NYSE:APO) is leading the effort, with banks in talks alongside it to finance the $40 billion GPU purchase, according to Reuters. The Financial Times was first to report that SpaceX looks to raise $40bn for NVIDIA chips.
This is a private credit transaction where investment firms lend directly to borrowers with terms kept confidential. Public bond sales require offering documents anyone can read, giving outsiders far less visibility into private deals.
Credit Markets Hit a Record on the News
In a second confirmed development, BigGo Finance reported that SpaceX’s credit default swap spreads hit a record high after the debt plan became known.
A credit default swap works like insurance against non-payment. The buyer pays a regular fee; if the borrower defaults, the seller covers the loss. Higher prices mean the market sees more risk the debt won’t be repaid.
Shares Rose as Insurance Costs Climbed
SpaceX stock traded at $163.40 as of 11:40 AM ET on October 9, 2026, up 1.76% in Friday’s session and up 10.35% over the past week.
Insuring SpaceX’s debt cost more this week than ever before, while its shares rose. Shareholders profit when the company grows; lenders profit only when repaid. The same news looks like ambition to one group and risk to the other. Investors wanting SpaceX’s spending details can read its most recent quarterly earnings release filed with the SEC or visit the SpaceX investor relations site.
What a Podcast Added That We Could Not Verify
The details below come from a podcast discussion. We could not corroborate them in the reporting we reviewed.
On The AI Daily Brief, hosts John Coogan and Jordi Hays said several lenders passed after receiving a “short, 2-page deal memo with pictures of outer space and an arrow pointing out that the company was going to build data centers ‘somewhere in the universe.’” The hosts also said PIMCO is considering the deal. We could not independently verify either claim.
John Coogan said SpaceX’s credit default swaps are now pricing in a 15% chance of default by the end of 2031. Reporting confirms the record high in spreads, according to BigGo Finance. It does not confirm this probability, and we could not independently verify it.
The hosts described a second deal: Broadcom (NASDAQ:AVGO) in talks on a $50 billion deal with Apollo and Blackstone (NYSE:BX) to finance OpenAI’s custom chips, according to The AI Daily Brief. Broadcom would lend its credit rating to OpenAI for a better interest rate. The hosts suggested frontier AI labs struggle to borrow at investment grade alone. We could not independently verify the deal.
A third deal involves a database company seeking funding for a large chip purchase while facing credit downgrade risk. John Coogan put the three chip fundings in private credit markets at over $90 billion combined. We could not independently verify this claim.
Why Private Credit Is Becoming the AI Funding Channel
A growing share of AI infrastructure spending is financed through private credit, which reveals less than public bonds. Fewer people see the terms, covenants, and true borrowing costs. All of that chip-buying still has to be powered, cooled, and connected by somebody, and we covered seven of those suppliers in a free report on the AI boom beyond the chipmakers.
For individual investors, these transactions can shift credit market views before public filings appear. Credit default swap pricing is one of few visible signals, worth tracking alongside the stock.
Keeping the Confirmed Facts Separate
The confirmed facts: a company is seeking tens of billions in debt to buy chips, and the cost of insuring that debt has hit a record. The podcast’s details are more colorful and may well be accurate, but readers should know which claims are confirmed and which are not.