Goldman Sachs and Apollo Arrange $40 Billion SpaceX AI Deal

Goldman Sachs and Apollo Global Management are organizing a $40 billion financing arrangement to fund artificial intelligence chips and server hardware for Space Exploration Technologies Corp. The multi-tranche deal is the largest GPU financing arrangement on record and is structured to keep the debt off the balance sheet of SpaceX.

Under the terms of the agreement, an affiliate of Apollo Global Management will purchase the hardware and lease it back to SpaceX. The equipment is scheduled for delivery in the first half of 2027, with lease terms extending just over five years. The financing supports the expanding computing requirements of SpaceX as it grows its artificial intelligence business.

Goldman Sachs is currently seeking investors to purchase portions of the arrangement. Some potential buyers have been asked to commit stakes of up to $500 million before the formal syndication process begins.