Pimco buys $4B slice of SpaceX AI debt in Apollo-led deal

nl.investing.com (Dutch) —

Pimco has purchased part of a $4 billion portion of SpaceX's $40 billion equipment financing deal, led by Apollo Global Management, to fund Nvidia GPU purchases for AI expansion. The investment was reported by Bloomberg. Pimco acquired a slice of the A2 tranche, positioned between junior and senior debt, issued as 144a bonds for institutional buyers. The Newport Beach asset manager has been a major AI-debt buyer despite warning about sector excesses. The debt markets have turned more negative on AI companies recently as rapid spending outpaces profitability. Interest rates on the SpaceX debt were not disclosed Monday.


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