AI Infrastructure
SpaceX Signs $40B GPU Financing Deal With Apollo Global Management
Following its xAI consolidation, SpaceX reported $7.6 billion in third-quarter AI revenue and projected $35 billion to $40 billion in fourth-quarter capital expenditures.
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SpaceX has secured a binding financing commitment from funds managed by Apollo Global Management for an estimated $40 billion lease covering artificial intelligence GPUs and data center equipment, according to financial disclosures reported by TechCrunch.
Under the structure of the agreement, Apollo-managed vehicles will purchase Nvidia's next-generation Vera Rubin GPUs and associated data center hardware and lease the equipment to SpaceX over a term of 5 to 5.25 years, with deliveries scheduled to begin in the first half of 2027.
$7.6B in Q3 AI Revenue and $35B–$40B Q4 Capex Forecast
The financing follows SpaceX's consolidation of xAI and related software assets into its corporate structure. In the third quarter, SpaceX generated $14.6 billion in total revenue, of which $7.6 billion came from its AI segment — spanning Grok subscriptions, the Cursor coding environment, and enterprise cloud compute services.
SpaceX Chief Financial Officer Bret Johnsen and CEO Elon Musk indicated that capital expenditures are accelerating rapidly as the company builds out compute capacity, with fourth-quarter capital expenditures projected between $35 billion and $40 billion.
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