SpaceX Signs $40 Billion Chip-Financing Lease With Apollo Global

SpaceX signed a roughly $40 billion equipment-finance lease with Apollo Global Management Inc. to fund chips supporting its artificial intelligence ambitions, the company said in a filing Monday. The fixed rate will be set at pricing, which has not yet occurred, and the deal is expected to close before year-end, with leases beginning in the first half of next year. Elon Musk promoted the deal over the weekend in a post on X, saying it would help finance purchases of Nvidia Corp. graphics processing units. Bloomberg reported that Musk claimed the $40 billion chips debt was closed even as talks continued. The agreement follows a volatile week for AI companies in debt markets amid concern over rapid industry spending and limited profits. Investors have demanded larger premiums to finance the AI build-out, roiling pricing discussions on the SpaceX debt, structured as private bonds issued by an off-balance sheet entity.