SpaceX Seeks $40 Billion in Debt for Nvidia Chips as Ray Dalio Warns AI Boom Is a 'Classic Bubble'

Elon Musk's SpaceX is raising $40 billion in debt financing to purchase artificial intelligence chips from Nvidia, underscoring how the AI infrastructure arms race is increasingly running on borrowed money rather than free cash flow. The $40 billion package—structured around $10 billion in bank loans and $30 billion in investment-grade debt—is being led by Apollo Global Management, with investment firms including Pacific Investment Management Co. evaluating the deal. The transaction is expected to close in 2027.