Elon Musk loses over $21 billion after SpaceX shares drop
Business
Elon Musk's net worth took more than a $21 billion hit after SpaceX shares dropped, thanks to news that the company wants to raise $40 billion to buy NVIDIA AI chips.
Even with this dip, Musk is still the world's richest person, sitting at a cool $1.03 trillion.
SpaceX seeks $40B for NVIDIA chips
SpaceX plans to borrow big, $10 billion in bank loans and $30 billion in debt to boost its AI game with NVIDIA tech, with Apollo leading the charge.
The announcement spooked investors a bit, making it more expensive for SpaceX to insure its debt.
If this deal goes through, SpaceX will take on way more debt but also double down on building serious AI muscle.