SpaceX secures $40B Apollo deal to fund AI chips and data centers

SpaceX has secured a binding commitment for approximately $40 billion in financing to fund AI chips and data center equipment, calling it the largest committed GPU financing ever, according to a regulatory filing Monday. Under the deal, Apollo Global Management will purchase the chips and server hardware, then lease the equipment to SpaceX for about five to five-and-a-quarter years. The deal is expected to close by year-end, with leases beginning in the first half of 2027 as Nvidia’s next-generation Vera Rubin chips arrive. The financing diversifies SpaceX’s funding sources as its AI segment generated $7.6 billion of $14.6 billion in third-quarter revenue, surpassing Starlink and launches combined. Capital expenditures surged to nearly $20 billion, with $35-40 billion expected in the fourth quarter alone.