SpaceX Reaches $40 Billion Financing Agreement With Apollo-Managed Entity — Update
By Connor Hart
SpaceX has closed on a $40 billion debt-financing deal to buy graphics-processing units, or GPUs, and related equipment to help power its artificial-intelligence buildout.
On Monday the company said in a regulatory filing that it entered into a binding commitment letter with an undisclosed entity managed by Apollo Global Management. Under the agreement, the Apollo-managed entity will purchase GPUs and related data-center equipment, which will be leased to SpaceX.
The agreement confirms a statement by SpaceX Chief Executive Elon Musk on Sunday, which said the company had closed on the financing.
Musk said in a post on X that "debt markets have almost entirely shut off access to money for any company that doesn't have substantial revenue independent of AI data centers."
"But we're investment grade and have Starlink & launch revenue," he added.
SpaceX will make quarterly payments over approximately five years, expecting aggregate principal payments under the leases to total about $40 billion, excluding interest and other expenses.
The equipment will be delivered in installments, with individual leases expected to begin during the first half of 2027.
Quarterly payments will generally include one-twentieth of the financed cost of the equipment, along with interest calculated at a fixed annual rate on the outstanding lease balance and certain additional expenses, the company said.
The interest rate hasn't yet been determined.
SpaceX expects to finalize the master finance lease before the end of the year, subject to certain closing conditions.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
October 26, 2026 10:36 ET (14:36 GMT)
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