SpaceX signs $40 billion GPU lease agreement with Apollo Global
SpaceX entered a binding commitment on Oct. 24, 2026 to lease GPU pods and related equipment from an Apollo‑managed entity. The lease schedules run for about five to five‑and‑a‑quarter years, with quarterly rent equal to one‑twentieth of the financed cost plus a fixed annual rate that will be set before pricing. Aggregate principal payments are expected to total roughly $40 billion, with the leases commencing in the first half of 2027 and the transaction closing before the end of 2026.
Why it matters
The off‑balance‑sheet lease keeps the financing out of SpaceX’s reported debt, but the $40 billion exposure could affect its investment‑grade rating if interest rates rise. Apollo’s involvement adds a large creditor that may influence SpaceX’s future financing options.
Key facts
- 1SpaceX signed a binding commitment letter on Oct. 24, 2026 for a master finance lease with an Apollo‑managed entity. investing.com
- 2The lease will cover GPU pods and related equipment to be used in SpaceX data centers. investing.com
- 3Each lease schedule has a term of approximately five to five‑and‑a‑quarter years. investing.com
- 4Aggregate principal payments across all schedules are expected to total about $40 billion. investing.com
- 5Lease schedules are expected to commence during the first half of 2027. investing.com
- 6The deal is expected to close before the end of 2026. investing.com
Open questions
- The final fixed interest rate for the lease has not been disclosed.
- Exact pricing and closing conditions remain pending.
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.