The Richest Man in the World Needs More Money Mitchell Duran Wed, October 7, 2026 at 5:32 PM EDT 2 min read NVDA -0.74% SPCX -2.51% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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Apparently, Elon Musk's SpaceX, valued at $2.2 trillion and led by a CEO worth $1 trillion, needs even more money.
The Financial Times reported late Tuesday that the rocket company is seeking $40 billion to buy more chips from its longtime partner and AI confidant, Nvidia.
"We've decided to build exclusively on Nvidia because we think the Vera Rubin architecture is the best architecture," Musk said in August.
Nvidia CEO Jensen Huang and Musk have a history of praising each other. On the BG2 Pod in October 2024, Huang called Musk the "ultimate GPU."
"He has a great sense of urgency and a real desire to build it. When will comes together with skill, unbelievable things can happen," he added.
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SpaceX is seeking $10 billion in bank loans and $30 billion in investment-grade debt, or corporate bonds rated BBB- or Baa3 and above, the safer tier of company debt. With the company rated Baa1 by Moody's and BBB by S&P Global Ratings, Apollo has plenty of options as it leads the financing and helps sell the debt to everyone from pension funds and life insurers to regulated financial institutions.
Wall Street didn't love the prospect of the company more than doubling its debt load, which stands at about $30 billion, according to companiesmarketcap.com. Shares of SpaceX (SPCX) are down 2.4% today. Its total debt-to-equity ratio is 0.31x, below the sector average. Boeing sits at the extreme, with a 10.0x D/E ratio, while Rocket Lab (RKLB) is around 0.61x.
Nvidia, on the other hand, got plenty of affection from Wall Street. News that Musk planned to buy exclusively from the AI-chip company sent its stock to another all-time high of almost $240 before it turned lower near the close. Nvidia is trading at $236 today.
But not everyone is as bullish on Elon's debt, the FT reports. Investors previously approached by the company received only a "short two-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.'"
Given that the same company approved Musk's compensation package on the condition that he build a Mars colony with a permanent population of at least 1 million, and no deadline, this checks out.
