Elon Musk’s company SpaceX plans to raise $40 billion to purchase Nvidia chips. Investment firm Apollo Global Management will organize the deal, the Financial Times reports, citing sources.

SpaceX intends to raise about $10 billion in bank loans and another $30 billion through the issuance of investment-grade debt.

Apollo is expected to help place the debt among a broad range of investors. According to the newspaper, bond firm Pimco is also involved in talks on the financing. The deal is expected to close in 2027.

SpaceX needs the funds to expand its computing infrastructure and for artificial intelligence projects.

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