Oracle, Broadcom, and SpaceX are each pursuing large-scale financing to fund AI hardware purchases, according to the Wall Street Journal. Broadcom is seeking more than $50 billion to support its custom AI chip development with OpenAI, while SpaceX is arranging a $40 billion deal, comprising $10 billion in bank loans and $30 billion in investment-grade debt, to purchase Nvidia hardware, with Apollo expected to lead that transaction and it expected to close in 2027. Oracle is in talks with Apollo and Goldman Sachs, though few details of its deal were disclosed, with financing intended to bridge the gap between hardware payment and incoming cloud revenue. Separately, SpaceX CEO Elon Musk confirmed the company has held discussions with TSMC about its $16.8 billion TeraFab project in Grimes County, Texas.
The scale of these financing deals, collectively exceeding $90 billion, signals that AI hardware acquisition costs have grown large enough to require structured debt and private equity arrangements rather than conventional corporate financing. The involvement of firms like Apollo and Goldman Sachs in chip financing reflects a structural shift in how hyperscale AI infrastructure is being capitalized, with repayment tied to future cloud revenue streams rather than existing assets.
Three major technology companies simultaneously pursuing large-scale AI compute financing signals a significant capital mobilization moment for the sector. The involvement of Oracle, Broadcom, and SpaceX together in a single financing report is a high-profile multi-company development warranting coverage.