SpaceX has entered into a financing arrangement worth approximately $40 billion with an affiliate of Apollo Global Management to fund its acquisition of artificial intelligence chips and server hardware, according to a regulatory filing released on Monday.
Under the agreement, the Apollo affiliate will purchase the equipment and lease it to SpaceX. Each lease will run for slightly more than five years from the date the equipment is delivered.
The deal highlights SpaceX’s growing investment in computing infrastructure as the company seeks to capitalise on rising demand for AI computing power while pursuing its ambitions in space exploration.
Leases Expected to Begin in 2027
SpaceX aims to finalise the agreement by the end of 2026. The leases are expected to begin in the first half of 2027, once the chips have been delivered.
The financing will help cover the cost of graphics processing units (GPUs) and related server equipment, which are essential for running advanced artificial intelligence systems.
On Sunday, SpaceX Chief Executive Officer Elon Musk said on X that the company had secured $40 billion in debt financing for GPUs.
Musk said the funding was primarily intended for chips expected to arrive in the first and second quarters of 2027 and would not be a major factor in the company’s financial results for the current quarter.
SpaceX Faces Heavy Capital Spending
The agreement comes as SpaceX prepares for substantial capital expenditure to expand its computing capabilities.
Chief Financial Officer Bret Johnsen has said the company still expects capital expenditure of between $35 billion and $40 billion in the fourth quarter.
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The scale of the planned spending reflects SpaceX’s efforts to expand beyond its established space-launch and satellite operations while investing in technologies that require substantial computing resources.
Artificial intelligence infrastructure has become increasingly expensive as companies compete to secure advanced chips, servers and the data-centre capacity needed to develop and operate AI systems.
Financing Supports Broader Ambitions
The financing arrangement also comes amid SpaceX’s broader ambitions in space exploration, including plans related to missions to the Moon and Mars.
By using a leasing structure, SpaceX can obtain access to expensive computing equipment while spreading payments over several years. The arrangement links the cost of the hardware to a longer-term financing commitment rather than requiring the company to fund the entire purchase upfront.
Reuters reported earlier this month that SpaceX had been in discussions with banks and asset managers to raise $40 billion to purchase Nvidia chips.
The latest agreement underscores the growing connection between the artificial intelligence industry and companies pursuing ambitious projects in space. Both fields require significant investment in advanced technology, computing infrastructure and long-term research and development.
