Newport Beach-based Pacific Investment Management Co. (PIMCO) has reportedly purchased a $4 billion stake in SpaceX’s massive financing round to help fund the company’s AI ambitions.
The report follows SpaceX’s announcement that it signed a roughly $40 billion equipment-financing deal with lenders led by Apollo Global Management Inc. to facilitate purchases of Nvidia Corp. graphics processing units and related equipment.
PIMCO is reportedly buying a portion of the overall debt package, which will be issued as 144A bonds, privately placed debt securities that may be traded among certain institutional buyers.
The news comes as PIMCO’s steady rise has made it a key buyer of debt fueling the AI boom, though the Newport Beach-based asset manager has cautioned against the industry’s excesses.
The firm was also an anchor investor in the financing of Oracle Corp.’s data center campus in Michigan and backed Meta’s Louisiana project.
PIMCO, founded in 1971 is a subsidiary of Allianz SE. The firm is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, as well as individual investors around the world
By CEO NA Editorial Staff
