SpaceX secures roughly $40B Apollo-backed GPU lease to expand AI compute
SpaceX disclosed a binding commitment for about $40 billion in financing from an entity managed by Apollo Global Management to buy GPUs and related server hardware, which Apollo will lease to SpaceX for roughly five to 5.25 years; SpaceX expects the deal to close by year-end and leases to begin as equipment (including Nvidia’s next‑generation Vera Rubin chips) arrives in H1 2027. The financing is intended to fund SpaceX’s rapidly expanding AI efforts — including Grok and cloud compute — and CFO Bret Johnsen said the company sees payback periods under one year on its AI infrastructure investments.