SpaceX Says It’s on Pace to Bring 200,000 Nvidia Chips Online a Month. Here’s Why Jensen Huang Calls GPU-Backed Loans “the Big Idea”

Key Stats for Nvidia Stock

• Current Price: $221.97

• Target Price (Mid): ~$546

• Street Target: ~$329

• Potential Total Return: ~146%

• Annualized IRR: ~23% / year

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What Happened?

Nvidia (NVDA) closed at $221.97 on October 21, up 2.54%, a day after SpaceX (SPCX) said on its earnings call it is on track to bring roughly 200,000 Nvidia GB300s online “every month for the remainder of this year.” Chip stocks rallied broadly the same day, and Nvidia was hosting its GTC Berlin conference, so SpaceX was one catalyst among several.

The harder question is who pays for chips at that pace. SpaceX’s answer, still under negotiation, is debt likely backed by the chips themselves, the structure Jensen Huang pitched to investors in September.

Huang Wants Nvidia’s Chips to Secure Their Own Loans

The Financial Times reported on October 6 that SpaceX is seeking about $40 billion in loans and investment-grade debt to buy Nvidia chips, with Apollo Global Management (APO) expected to lead. A person familiar with the talks