SpaceX locks in $40B GPU financing deal with Apollo

What happened: SpaceX disclosed a binding commitment for roughly $40 billion in financing for AI chips and data center equipment. An Apollo Global Management entity will buy the chips and server hardware and lease them to SpaceX. Key numbers: About $40 billion in financing. Why it matters: SpaceX said the lease diversifies its funding sources and covers a notable portion of funding for its growth plans. CFO Bret Johnsen cited less than one-year payback periods on AI infrastructure investments. Apollo said the financing will help deliver Nvidia's next-generation Vera Rubin chips. Coverage: 6 outlets in 24h

SpaceX disclosed a binding commitment for roughly $40 billion in financing for AI chips and data center equipment. An Apollo Global Management entity will buy the chips and server hardware and lease them to SpaceX.

SpaceX said the lease diversifies its funding sources and covers a notable portion of funding for its growth plans. CFO Bret Johnsen cited less than one-year payback periods on AI infrastructure investments. Apollo said the financing will help deliver Nvidia's next-generation Vera Rubin chips.