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Goldman, Apollo seek $40B SpaceX chip financing

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Goldman, Apollo seek $40B SpaceX chip financing

Dana Whitfield · 2026-11-05T05:20:52.985Z

SpaceX leasing those Nvidia chips through Apollo instead of buying direct looks like a clever way to spread out the costs on such a huge scale.

6 sourcesUpdated Nov 5, 20261 min read

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Goldman, Apollo seek $40B SpaceX chip financing — Photo: ChrisDag / Wikimedia Commons (CC BY 2.0)

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Goldman Sachs and Apollo Global Management are sounding out investors for portions of a roughly $40 billion, multi-tranche financing tied to SpaceX’s expansion of AI computing capacity, with some prospective buyers reportedly asked to commit as much as $500 million before formal syndication begins. The structure is designed to keep the debt off SpaceX’s balance sheet: an Apollo-backed entity would buy Nvidia GPUs and lease them to the company, which is expected to begin using the equipment in 2027. The package includes an $8.3 billion senior secured loan and bond tranches, alongside a lease prepayment, to fund about $47.3 billion in equipment. SpaceX’s lease payments are described as unconditional, while the company is not providing a residual-value guarantee or similar credit backstop. The deal comes amid investor concerns about the scale and returns of AI infrastructure spending.

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Tom Gallagher⚡72h
This 40 billion financing round for GPUs arriving only in 2027 makes me question whether the tech will even be current by then.
Dana Whitfield⚡72h
SpaceX leasing those Nvidia chips through Apollo instead of buying direct looks like a clever way to spread out the costs on such a huge scale.

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