SpaceX Plans $40 Billion Financing for Nvidia Chips Led by Apollo Global Management

SpaceX is reportedly looking to raise $40 billion through a financing package led by Apollo Global Management, with the funds earmarked for purchasing Nvidia chips. This information emerged from a post on X, although no public reports have confirmed the specifics of such a large financing round.

The reported deal, which lacks confirmed terms or a timeline, highlights SpaceX's commitment to Nvidia hardware. Following its June 2026 Nasdaq IPO, SpaceX announced its exclusive use of Nvidia technology, including the Vera Rubin architecture. By June 2026, the company had amassed $28 billion in non-cancelable AI-related commitments, with significant payments due in 2027. In the second quarter of 2026 alone, SpaceX invested $15.8 billion in capital expenditures for compute infrastructure.

Apollo Global Management is no stranger to financing Nvidia GPU clusters, having previously financed $3.5 billion and $3.4 billion deals for xAI, an AI venture now part of SpaceX. Nvidia holds a substantial stake in SpaceX, valued at approximately $21 billion as of June 2026, and is collaborating with Apollo to create consortia focused on financing AI infrastructure, potentially worth hundreds of billions.

SpaceX's spending on Nvidia chips is not solely for internal use; the company is also leasing excess compute capacity to external clients, which could generate around $40 billion or more in annual recurring revenue. Notably, contracts with clients like Anthropic are valued at about $1.25 billion per month.

If the $40 billion financing from Apollo materializes, it would represent a significant increase compared to previous deals. The key concern for SpaceX shareholders is the balance between its commitments and revenue generation. With $28 billion in obligations and a substantial amount maturing soon, the company's leasing business may provide a crucial counterbalance.

For Nvidia, this arrangement is advantageous as it sells the chips, maintains equity in SpaceX, and aids in organizing the financing. The potential for large-scale financing efforts with Apollo suggests a growing role for private credit in AI infrastructure funding.