[UPDATE] SpaceX details roughly $40B Apollo-led GPU lease financing for Nvidia Vera Rubin systems
SpaceX disclosed a binding commitment, which it calls the largest committed GPU financing, for about $40B of principal. An Apollo-managed entity will buy Nvidia Vera Rubin GPUs and related equipment and lease them to SpaceX over 5-5.25 years. Goldman Sachs is structuring agent, with commitments from BlackRock, GSAM and KKR-advised accounts. The deal is not closed; closing is expected by year-end, deliveries start in 1H 2027, and the fixed rate is still to be set. Musk is reported as saying SpaceX is better placed than companies that mainly rent out AI compute because of its investment-grade status and its Starlink and launch revenue, so the comparison with neocloud financing costs is the point to watch.