SpaceX Locks In $40 Billion Apollo Deal to Lease Nvidia AI Chips

SpaceX Locks In $40 Billion Apollo Deal to Lease Nvidia AI Chips

SpaceX has reached a binding commitment for roughly $40 billion in financing for AI chips and data center equipment, the company disclosed in a regulatory filing on Monday — a deal it called the largest committed GPU financing to date. Under the agreement, an entity managed by Apollo Global Management will buy the chips and server hardware, then lease the equipment back to SpaceX over about five years.

The structure gives SpaceX a new way to fund its rapidly expanding AI ambitions without relying solely on traditional debt markets. Apollo said the financing will help deliver Nvidia's next-generation Vera Rubin chips for SpaceX's terrestrial compute buildout, while chief executive Elon Musk has said debt markets have largely shut off access to money for companies without revenue independent of AI data centers. SpaceX, he noted, has Starlink and launch revenue to lean on.

The deal follows a blockbuster quarter for SpaceX's AI business, which includes the Grok chatbot, the Cursor coding tool and its cloud compute operation. That segment brought in $7.6 billion of the company's $14.6 billion third-quarter revenue — more than Starlink and rocket launches combined — while capital spending jumped to nearly $20 billion for the quarter. The leases are expected to close by year-end, with hardware arriving in batches from the first half of 2027.

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