An Apollo-managed affiliate will acquire AI chips and server equipment for SpaceX to lease, with payments totaling about $40 billion.
SpaceX has entered an arrangement under which an affiliate managed by Apollo Global Management will acquire AI chips and server hardware and lease the equipment to SpaceX. The deal, reported by Reuters on October 26, carries about $40 billion in principal payments, according to the company’s regulatory filing.
Each lease is expected to run for slightly more than five years after the relevant equipment arrives. SpaceX aims to finalize the agreement by year-end, and the leases are expected to begin in the first half of 2027, when the chips are delivered. The report does not specify the exact chip quantities or server configurations.
The agreement formalizes financing for computing hardware after CEO Elon Musk said the previous day that SpaceX had closed $40 billion in debt financing for graphics-processing units. Musk said the funding was aimed mainly at chips expected in the first and second quarters of 2027, and that it would not materially affect the current quarter. SpaceX’s chief financial officer had separately projected fourth-quarter capital expenditure of $35 billion to $40 billion.
The structure pairs equipment acquisition by an Apollo-managed entity with long-term leasing to SpaceX, rather than describing a direct purchase by the AI and aerospace company. The spending reflects SpaceX’s effort to secure substantial compute capacity, while its broader business includes launch services and satellite internet. Reuters had reported earlier in October that SpaceX was in talks to raise $40 billion for Nvidia chips; the October 26 report provides new confirmation of the Apollo-linked arrangement and its lease terms.
The stated timetable depends on equipment delivery and finalizing the deal. The leases are expected to start next year, but the company’s year-end target for completing the agreement remains a plan rather than a completed milestone.