SpaceX secures $40 billion GPU financing deal with Apollo
SpaceX entered a binding financing agreement with an Apollo-managed entity to lease AI chips and server hardware worth about $40 billion, supporting its expanding artificial-intelligence infrastructure.
SpaceX disclosed a binding commitment for roughly $40 billion in financing to acquire AI chips and related data-center equipment. Under the agreement, an entity managed by Apollo Global Management will purchase the hardware and lease it to SpaceX for periods of five to five-and-a-quarter years, starting when each tranche is delivered. The company expects the leases to begin in the first half of 2027, with the transaction closing by the end of the year, subject to customary conditions.
SpaceX CFO Bret Johnsen said the arrangement diversifies the company’s funding sources and covers a significant portion of the capital needed for its growth plans, noting payback periods of less than one year for the AI infrastructure investments that will support the Grok chatbot and the firm’s cloud services.
Apollo indicated the financing will facilitate the deployment of Nvidia’s next-generation Vera Rubin GPUs for SpaceX’s terrestrial compute buildout. The deal arrives as SpaceX ramps up spending on AI infrastructure alongside its Starlink satellite and launch operations.
In the third quarter, SpaceX’s AI segment, which includes the Grok chatbot, the Cursor coding tool and a cloud compute business, generated $7.6 billion of the company’s $14.6 billion in revenue, surpassing investor expectations. Capital expenditures rose to nearly $20 billion, up from $6.9 billion a year earlier, and the company projected $35 billion to $40 billion in spending for the fourth quarter.