SpaceX's $40 Billion Chip Financing Meets a Fresh Wave of Analyst Optimism
Published on 10/10/2026 at 07:40 | Editorial boerse-global.de
SpaceX is assembling one of the most ambitious financing packages in the history of the commercial space industry, even as Wall Street's research desks rush to reprice the company's equity.
According to Axios, the company is seeking $40 billion in debt financing to bankroll the purchase of semiconductors from Nvidia, with Apollo Global Management leading the process. The scale of the borrowing underscores how far SpaceX has traveled from its roots as a launch provider: it is now positioning itself as an infrastructure heavyweight, pairing connectivity with raw computing power. The move also signals a striking appetite for risk at the management level, since servicing that kind of debt load will raise the operational bar considerably — regardless of Apollo's role in structuring the deal.
Barclays Opens Coverage With a Bullish Call
The financing news landed alongside a fresh vote of confidence from London. Barclays initiated coverage of SpaceX on Friday with an Overweight rating and a twelve-month price target of $254, a clear endorsement of the company's widening commercial footprint.
The British bank is not alone in its enthusiasm. Morgan Stanley's Adam Jonas reaffirmed his Outperform rating and $300 target on October 5, with much of the bullish case resting on the commercial prospects of the Starlink satellite network. Susquehanna's Charles Minervino took a more measured line on Wednesday, lifting his price target to $173 from $144 while keeping a Hold rating — acknowledging growth in the core businesses but flagging valuation risk.
Should investors sell immediately? Or is it worth buying SpaceX?
The stock finished Friday at EUR 145.20, up 1.4 percent on the day, and has climbed 14 percent over the past 30 days. Even so, the shares remain well below their yearly high, a gap that suggests investors are not blindly rewarding the company's aggressive expansion plans and the capital hunger that comes with them.
A Spectrum Deal and a Regulatory Green Light
Beneath the analyst chatter, SpaceX has been laying concrete groundwork for a push into the terrestrial mobile market. The company agreed to acquire the nationwide 800 MHz spectrum portfolio of Grain Management outright — a transaction covering up to 14 MHz of paired spectrum and aimed at improving indoor mobile reception. Media reports put the value of the agreement at roughly $8 billion. Completion hinges on approval from the US telecom regulator, the FCC, along with customary closing conditions.
Washington has already delivered one significant win. The FCC granted SpaceX permission to build and operate a constellation of 15,000 satellites designed for mobile services and direct-to-device connections.
Regulatory friction persists elsewhere, however. The Los Angeles Times reported Wednesday that SpaceX, together with commercial space associations, is pressing the FCC to adjust how certain frequency bands are coordinated. Boeing and Lockheed Martin have pushed back hard, arguing that they rely on those frequencies for aircraft testing and warning of potential interference. The standoff captures the dilemma of rapid growth: technological dominance counts for little when the approval process itself becomes the strategic bottleneck.
Crew-12 Splashdown Caps a Busy Stretch
Operationally, SpaceX closed out the week on a high note. On Thursday the company completed its Crew-12 mission, with the Dragon capsule splashing down in the Pacific as planned, carrying four astronauts home after more than seven months aboard the International Space Station.
Taken together — the multibillion-dollar credit plans for AI hardware, the fight with aerospace giants over spectrum, and pending agency decisions — SpaceX faces a dense thicket of uncertainties. The long-term case still leans on its expanding technological lead and its willingness to invest in next-generation networks. But the road there will be costly and uneven, and the next steps in structuring the $40 billion financing should reveal just how sturdy the company's financial foundation really is.
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SpaceX Stock: New Analysis - 10 October
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