SpaceX locks in $40B GPU financing deal with Apollo

JUST IN: SpaceX locks in a binding commitment for roughly $40 billion from Apollo to pay for AI chips and data center equipment, calling it the largest committed GPU financing ever.

SpaceX just lined up forty billion dollars to buy graphics cards. Not rockets. Chips.

Apollo Global Management, the private equity giant, will purchase the GPUs and server hardware itself, then lease it all back to SpaceX for about five years. The company's calling it the largest committed GPU financing ever, with the deal closing by year end and Nvidia's next generation Vera Rubin chips arriving in early 2027.

And honestly, the rocket company is barely a rocket company anymore. Last quarter, Grok, Cursor and the cloud business pulled in seven point six billion of fourteen point six billion in total revenue. That's more than Starlink and launches combined. Elon Musk took a victory lap too, pointing at his investment grade rating while pure play compute rivals sweat in the debt markets.

Here's the number that should stop you cold though. SpaceX plans to spend up to forty billion dollars this quarter alone. The AI buildout isn't slowing down, it's compounding.

This is Liu Yang, reporting for HIT.