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ZEC $1,299 SpaceX Stock Slips After $40 Billion Nvidia Debt Financing Report
Shares of the aerospace firm fell in premarket trading after a report outlined plans for a large debt raise to buy Nvidia AI chips.
Key takeaways
- Stock fell 2.17%. SPCX shares dropped to $168.18 in premarket trading after the financing report was published.
- Debt totals $40 billion. The proposed funding includes $30 billion in bonds and $10 billion in bank loans.
- Lock-up release Oct. 9. 328.4 million restricted SpaceX shares will become eligible for transfer on October 9.
What happened
On October 7, 2026, shares of Space Exploration Technologies Corp. The proposed funding would consist of roughly $30 billion in investment-grade bonds and $10 billion in bank loans, with Apollo Global Management slated to lead the transaction and Pimco in preliminary talks to participate. The financing is projected to close in 2027.
Why it matters
The reported borrowing would add to SpaceX's already heavy capital expenditure load. In the first half of 2026, the company recorded $28.476 billion in property, plant, and equipment purchases, a 309% increase from the $6.965 billion spent in the same period of 2025. That spending was 8.2 times SpaceX's $3.466 billion in operating cash flow for the first half of 2026. The company attributed the higher spending to data center and space launch facility investments, and Nvidia hardware is already a core part of its AI infrastructure plans, as Elon Musk has stated SpaceX will use Nvidia chips exclusively for its data centers.
What is still unclear
- The exact terms of the proposed $40 billion debt package, including interest rates and maturity dates, have not been publicly disclosed, and it is unclear what portion of the 328.4 million shares set to become transferable on October 9 will be sold by existing holders.
Questions readers ask
Why did SpaceX stock drop?
SpaceX stock fell after a Financial Times report stated the company is seeking $40 billion in debt financing to buy Nvidia AI chips, raising concerns about increased leverage and capital spending. The drop followed three consecutive days of regular-session gains for SPCX.
When will the SpaceX share lock-up expire?
Up to 328.4 million SpaceX shares will become eligible for transfer on October 9, 2026, under the company's staggered Day-120 lock-up provision. The release removes transfer restrictions but does not require holders to sell their shares.
How much is SpaceX spending on AI infrastructure?
SpaceX spent $28.476 billion on property, plant, and equipment in the first half of 2026, a 309% increase from the same period in 2025. Nvidia hardware is central to the company's data center buildout, per public statements from Elon Musk.
