SpaceX Agrees to $40 Billion Chip-Financing Deal With Apollo

(Bloomberg) -- SpaceX signed a roughly $40 billion equipment-finance lease with Apollo Global Management Inc. to pay for the chips needed to fuel its artificial intelligence ambitions. Most Read from Bloomberg Lula Wins Record Fourth Term in Surprise Brazil Comeback Trump Says Decision Nearing on Iran: Deal or 'Finish It Off' Trump Prepares for Iran Escalation After US, Israeli Polls Apollo's Slok Says AI Has Delivered Zero Payoff Outside of Tech Musk Claims $40 Billion Chips Debt Closed, Yet Talks Ongoing The fixed-rate that the company will pay will be determined at pricing, which hasn't yet occurred, SpaceX said in a filing Monday. The deal is expected to close before year-end, and the leases are expected to start in the first half of next year.