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Elon Musk Loses $21 Billion As SpaceX Seeks $40 Billion For Nvidia Chips
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Moneycontrol•08-10-2026, 09:59
Elon Musk Loses $21 Billion As SpaceX Seeks $40 Billion For Nvidia Chips
- •Elon Musk saw his net worth drop by more than $21 billion on Wednesday as shares of SpaceX and Tesla declined.
- •The drop followed reports that SpaceX is seeking to raise $40 billion in debt to finance the purchase of Nvidia artificial intelligence chips.
- •The proposed financing is expected to include about $10 billion in bank loans and $30 billion in investment-grade debt.
- •Despite the sharp single-day loss, Musk retained his status as the world's richest person and a trillionaire.
- •SpaceX plans to build its artificial intelligence infrastructure exclusively on Nvidia hardware, joining other tech giants heavily investing in AI.
Key Questions Answered
Elon Musk's net worth fell by more than $21 billion after SpaceX shares declined following reports that the company is seeking to raise $40 billion in debt to fund Nvidia artificial intelligence chip purchases.
The proposed financing is expected to comprise about $10 billion in bank loans and $30 billion in investment-grade debt, with private capital group Apollo leading the arrangement to close in 2027.
SpaceX decided to build exclusively on Nvidia because Elon Musk stated that they believe the Vera Rubin architecture is the best architecture for their AI needs.
