SpaceX locks in $40B GPU financing deal with Apollo
techcrunch ·
SpaceX has secured a binding $40 billion financing deal with Apollo Global Management to fund the acquisition and leasing of AI chips and data center equipment. Under this agreement, Apollo will purchase Nvidia’s next-generation Vera Rubin GPUs and server hardware, then lease them to SpaceX for approximately five years. The transaction is expected to close by the end of the year, with leases commencing in early 2027 as the equipment is delivered. This arrangement allows SpaceX to diversify its funding sources beyond traditional debt markets while supporting its rapidly expanding AI infrastructure needs. The move coincides with strong performance from SpaceX's AI segment, which generated $7.6 billion in revenue during the third quarter. CEO Elon Musk highlighted the company's investment-grade status and diversified cash flow from Starlink and rocket launches as key advantages. He used the announcement to criticize pure-play AI compute rivals, predicting significant consolidation among neocloud companies lacking external revenue streams.
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