SpaceX reportedly seeks $40 billion Apollo-led deal for Nvidia chips
The financing, if completed, would dwarf other recent AI compute deals and follows reports of delays in SpaceX's own data center plans
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SpaceX is reportedly working with Apollo Global Management to arrange $40 billion in financing to buy Nvidia chips, a deal that has not been confirmed in detail.
If it goes ahead, the facility would be far larger than the Anthropic compute deal disclosed last month, which reinforced Nvidia's demand picture without moving its stock. It would also come as SpaceX is said to be overhauling its own data center build-out in ways that could slow expansion, raising the question of whether outside financing is being lined up to cover a gap in the company's internal plans.
Apollo has built a track record in this kind of lending. In February, Reuters reported the firm was close to a roughly $3.4 billion loan, arranged by Valor Equity Partners, to a vehicle that would buy Nvidia chips and lease them to xAI. That followed a similar $3.5 billion loan in November in which Nvidia was an anchor investor. Apollo has also used credit-enhancing structures in other deals, including its investment in ONEOK, a model that keeps leverage off a company's core balance sheet while securing supply.
Nvidia has been expanding its web of financing partners more broadly. According to TradingKey, the company is working with Apollo alongside BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to mobilise more than $500 billion in third-party capital for AI infrastructure over time. Reuters has reported, via TradingKey, that lenders remain cautious about financing structures backed by AI computing equipment, since banks typically assume advanced GPUs have a useful life of three to four years, shorter than the lifespan Nvidia claims for its chips.
A $40 billion facility dedicated to Nvidia chips would mark one of the largest financing commitments yet tied to the company's hardware, underscoring how much capital is being staked on continued demand even as some lenders question the equipment's long-term value.