Jewish billionaire Marc Rowan’s investment firm Apollo is expected to help Elon Musk’s SpaceX raise $40 billion to buy Nvidia AI chips, according to a Financial Times report.
The proposed deal would bring together roughly $10 billion in bank loans and another $30 billion borrowed from investors. Apollo would lead the effort to arrange the money, with investment firm Pimco also reportedly in talks to participate.
The chips would support SpaceX’s growing AI operations, where powerful computers are needed to train and run artificial intelligence.
Rowan is Apollo’s co-founder and CEO. His firm’s role would put it at the center of a major purchase connecting Musk’s business with Nvidia, the leading supplier of AI chips.
The financing has not been completed and is expected to close in 2027. SpaceX, Apollo and Nvidia had not commented when Reuters published its report.