SpaceX Secures Record $40 Billion GPU Lease Deal With Apollo - Yahoo Finance
SpaceX has entered a binding commitment with an Apollo-managed entity for approximately $40 billion in GPU and data-center equipment financing, described as the largest such transaction.
The deal reflects a broader shift in AI infrastructure financing toward operators with diversified, creditworthy revenue, according to analysts. Rather than purchasing hardware outright, SpaceX will rely on an Apollo-managed entity to acquire the GPUs and data-center equipment, which will then be leased back to SpaceX under a master finance lease structure.
Financing Structure
Individual lease terms will run approximately five to five-and-a-quarter years, with quarterly payments totaling roughly $40 billion in aggregate principal, excluding interest and other expenses. Equipment will arrive in tranches, with deliveries expected in the first half of 2027.
Apollo and Goldman Sachs led the financing effort, with anchor commitments from funds or accounts managed by BlackRock, Goldman Sachs Asset Management, and KKR. The participation of this syndicate indicates sustained institutional interest in large-scale AI infrastructure as a private-credit asset class.
Hardware and Applications
A $40 billion committed deployment channel may provide Nvidia with meaningful demand visibility for hardware that has not yet shipped at scale.
Apollo confirmed the financing will support Nvidia's next-generation Vera Rubin chips for SpaceX's terrestrial compute expansion. The hardware is intended to run Grok, AI services for enterprise and consumer users, and SpaceX's existing and future cloud customers.
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