SpaceX Secures $40 Billion Apollo GPU Lease as AI Revenue Hits $7.6 Billion
Updated
Updated · TechCrunch · Oct 26
SpaceX Secures $40 Billion Apollo GPU Lease as AI Revenue Hits $7.6 Billion
3 articles · Updated · TechCrunch · Oct 26
Summary
$40 billion in binding financing will let SpaceX lease AI chips and server hardware from an Apollo-managed entity, with the company calling it the largest committed GPU financing.
The sale-leaseback structure shifts hardware purchases off traditional debt markets and is meant to fund SpaceX's fast-growing AI buildout for Grok and cloud services; leases run about five to 5.25 years.
Year-end closing is expected, with equipment deliveries and lease starts in the first half of 2027; Apollo said the package will help deliver Nvidia's next-generation Vera Rubin chips.
SpaceX's AI segment generated $7.6 billion of $14.6 billion in third-quarter revenue, while capital spending jumped to nearly $20 billion from $6.9 billion a year earlier and fourth-quarter capex is projected at $35 billion to $40 billion.
Musk cast the deal as proof lenders still back diversified operators with Starlink and launch cash flow, while warning more than 200 AI-only neoclouds face consolidation as financing tightens.