SpaceX reached a binding commitment to enter into an approximately $40 billion master finance lease for GPUs and related equipment with an entity managed by Apollo Global Management. The lease will deliver the next-generation Nvidia Vera Rubin chips for SpaceX’s terrestrial compute buildout. SpaceX said it represents the largest committed GPU financing.
“SpaceX aims to deploy the largest compute infrastructure in the world,” SpaceX’s chief financial officer said. “As demand for compute continues to accelerate, we’re seeing less than one year payback periods on our SI infrastructure investments. This lease diversifies our funding sources and addresses a notable portion of the funding required to deliver on our growth plans as we aim to get additional compute online at record speeds to power Grok for enterprises and consumers, as well as serve existing and future cloud services customers.”
A number of financing parties led by Apollo and Goldman Sachs, which served as sole structuring agent, committed to the financing. Funds and accounts managed by BlackRock and Goldman Sachs Asset Management, and capital accounts advised by KKR, also made anchor commitments in the transaction.
Entry into the lease remains subject to certain specified closing conditions and is expected to close before year-end 2026, with lease schedules expected to commence upon delivery of the GPUs and related equipment in the first half of 2027.
Additional information regarding the terms of the lease is available in SpaceX’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.
