SpaceX ($SPCX) announced a binding commitment for approximately $40 billion in GPU financing through an entity managed by Apollo Global Management ($APO). The planned lease will finance Nvidia ($NVDA) Vera Rubin chips and related equipment for its terrestrial computing infrastructure.

• Closing is expected before year-end 2026, subject to specified conditions. Leases are expected to begin upon equipment delivery in the first half of 2027.
• Each equipment tranche will carry a lease term of approximately five to 5.25 years.
• Aggregate principal payments are expected to total $40 billion, with additional financing charges and expenses. The fixed rate remains to be determined.
• Apollo and Goldman Sachs lead the financing; Goldman Sachs served as sole structuring agent.
• Funds and accounts managed by BlackRock and Goldman Sachs Asset Management, and capital accounts advised by KKR, made anchor commitments.

Relevant Companies

• SpaceX ($SPCX) — Lessee expanding computing capacity for Grok and cloud customers.
• Apollo Global Management ($APO) — Manages the equipment lessor and leads financing.
• Nvidia ($NVDA) — Supplies the Vera Rubin chips specified for the buildout.

Editor’s Note: This is a developing story. This article may be updated as more details become available.