SpaceX locks in $40B GPU financing deal with Apollo

SpaceX has reached a binding commitment for roughly $40 billion in financing for AI chips and related data center equipment, the company disclosed in a regulatory filing Monday. SpaceX called the deal the "largest committed GPU financing" in a statement. Under the agreement, an entity managed by Apollo Global Management, the New York-based private equity giant, will buy the chips and related server hardware, then lease the equipment to SpaceX. The leases will last about five to five-and-a-quarter years, beginning when each tranche of equipment is delivered, according to the filing. SpaceX expects the deal to close by year-end, subject to closing conditions, with leases starting in the first half of 2027 as the GPUs and related equipment arrive.