SpaceX lands $40 billion GPU lease in the largest AI equipment financing ever
As seen on the 24/7 Wall St. homepage on October 26, 2026.
A $40 billion equipment lease means private credit is now underwriting the biggest AI buildouts, and Apollo is the one writing the ticket.
SpaceX has officially announced that they have secured $40 billion in the largest GPU financing ever. The company entered into a $40B master finance lease for GPUs and related equipment with an entity managed by Apollo Global Management. This lease will deliver the next https://t.co/M9SqmiivQu
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SpaceX has entered into a $40 billion master finance lease for GPUs and related equipment with an entity managed by Apollo Global Management, a deal the company describes as the largest GPU financing ever completed.
The structure is a finance lease rather than a traditional equity or debt raise, meaning Apollo is effectively the capital provider underwriting the hardware buildout while SpaceX retains operational control of the equipment. That arrangement puts private credit at the center of one of the most ambitious AI infrastructure commitments on record.
For investors tracking how frontier AI compute gets funded, this deal signals that private credit markets are now capable of absorbing the scale that next-generation GPU clusters demand. Apollo writing a ticket this size is a data point worth noting about where the financing of AI infrastructure is heading.
The full terms of the lease, including duration, interest rate, and the specific GPU hardware covered, were not disclosed in the announcement. Investors following either SpaceX's trajectory or Apollo's private credit exposure will want to watch for any additional detail as the agreement is executed.