People are taking BANK LOANS to buy the SpaceX IPO. 🚨 One investor tried taking a bank loan. Another asked friends for money. Others are throwing in tens of thousands even while admitting they are willing to overpay. This IPO has turned into a full Elon Musk FOMO event.

Indonesian builder PT PP will restructure 18.2 trillion rupiah ($1 billion) of bank loans, adding to sovereign wealth fund Danantara’s mounting burden of cleaning up troubled state-owned companies

Sources: SpaceX is seeking to raise $40B, including ~$10B in bank loans and ~$30B in investment-grade debt, to purchase Nvidia chips, in a deal led by Apollo (Financial Times) (Visit Techmeme dot com for the link and full context!)

$SPCX SEEKS $40B TO FUND MASSIVE $NVDA CHIP PURCHASE: FT SpaceX is looking to raise about $40B in financing led by Apollo to fund purchases of Nvidia chips. The plan includes roughly $10B in bank loans and $30B in investment-grade debt, with the transaction expected to close in 2027. Elon Musk said in August that SpaceX had “decided to build exclusively on Nvidia,” specifically pointing to its Vera Rubin architecture, as the company ramps spending on AI and data-center infrastructure.

BREAKING: SpaceX, $SPCX, is in talks with banks and investors to raise $40 billion of debt to buy chips from Nvidia amid "insatiable demand" among AI developers, per Bloomberg. The company is seeking to raise about $10 billion in bank loans and $30 billion in investment-grade debt to pay for the chips. The AI Revolution is even stronger than most people realize.

Global capital markets are incredibly hot: Companies have raised a record $4.7 trillion in equity, corporate debt, and bank loans so far this year. This marks the 3rd consecutive annual increase for this point of the year. Total capital raised is also running ~$500 billion above the 2021 post-pandemic financing boom. The surge has been driven primarily by technology companies seeking to fund AI spending, alongside record debt issuance to finance AI infrastructure. Furthermore, investment-grade private credit issuance is not included in these figures, despite playing an increasingly important role in financing data centers, semiconductors, and power plants supporting the AI buildout. Investors are pouring money into AI an unprecedented pace.

NEW: "The combination of the political will to win the AI race and the financial will to fund the build-out with printed money and bank loans produces the perfect environment for Bitcoin", says Arthur Hayes.