Goldman Sachs and Apollo Global Management are courting investors for roughly $40 billion in financing tied to SpaceX’s AI chips, even before formal syndication begins. Each institution approached could commit up to $500 million. An Apollo-managed entity would buy the graphics processors and servers and lease them to SpaceX, keeping the obligations off the company’s balance sheet. The financing is divided into tranches with different risk and return levels, while the approximately $40 billion represents the total lease payments. Hardware delivery and the start of leasing are expected in the first half of 2027, supporting SpaceX’s expansion of AI computing capacity for services including Grok models and cloud offerings.
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