Apollo deal terms, timeline, and payback for Musk's AI push

Elon Musk's company has signed a leasing agreement with Apollo Global Management to fund the purchase of Nvidia graphics processors. The deal is expected to close by the end of 2026, with lease terms beginning in the first half of 2027. The fixed financing rate has not yet been set. The company stated that the payback period for its artificial intelligence investments is less than one year. The agreement comes amid growing investor concern over heavy AI spending with limited returns. Recently, SpaceX's debt value has declined, and the cost of insuring its debt against default reached a record high.