SpaceX Locks In $40B Apollo-Backed GPU Lease to Expand AI Compute
aiinsider ·
SpaceX has secured a binding $40 billion financing deal for AI chips and data center equipment, marking the largest committed GPU financing to date. The agreement involves Apollo Global Management purchasing Nvidia’s next-generation Vera Rubin chips and leasing them to SpaceX for approximately five years. CFO Bret Johnsen stated that this arrangement diversifies funding and covers a significant portion of capital required for growth, noting that AI infrastructure investments are recouping in under a year. This financial move follows a strong third quarter where SpaceX’s AI segment contributed $7.6 billion to total revenue. Capital expenditures rose to nearly $20 billion, with further spending expected between $35 billion and $40 billion in the fourth quarter. CEO Elon Musk highlighted that lenders are becoming cautious toward AI infrastructure firms without substantial revenue outside of data centers. He predicted widespread consolidation among the more than 200 neocloud providers as debt markets tighten their stance on the sector.
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