Goldman Sachs and Apollo Global Management have begun approaching investors about buying portions of a reported roughly $40 billion financing arrangement tied to SpaceX’s artificial-intelligence computing infrastructure, Bloomberg News reported on November 4, 2026.
The proposed transaction would finance AI chips and server hardware that an Apollo affiliate would acquire and lease to SpaceX. People familiar with the matter told Bloomberg that some investors have been asked to consider stakes of as much as $500 million, ahead of a formal syndication process.
The arrangement is designed to keep the debt off SpaceX’s balance sheet, according to the report. Bloomberg described it as the largest financing structure of its kind for GPUs on record, underscoring the scale of capital now being directed toward the computing equipment required for AI services.
How the proposed financing is structured
| Item | Reported details |
|---|---|
| Financing size | About $40 billion in principal payments |
| Equipment | AI chips and server hardware |
| Structure | Multitranch financing and equipment leases |
| Potential investor stake | Up to $500 million |
| Expected delivery | First half of 2027 |
| Lease term | A little over five years from delivery |
SpaceX said in October that an Apollo affiliate would purchase the AI chips and server hardware and lease the equipment to the company. The deal was described at the time as involving about $40 billion in principal payments. The leases are expected to run for a little over five years after the equipment is delivered, with deliveries anticipated in the first half of 2027.
The planned leasing model would allow SpaceX to obtain substantial computing capacity without recording the related debt directly on its balance sheet, according to the Bloomberg report. The structure also places financial institutions and outside investors at the center of funding the hardware needed for SpaceX’s expanding AI operations.
Report has not been independently verified
Reuters said it could not independently verify Bloomberg’s account. Goldman Sachs declined a Reuters request for comment, while Apollo Global Management and SpaceX did not immediately respond.
The reported financing comes as SpaceX expands its AI business and increases its need for computing resources. Rather than relying only on an outright purchase financed on its own balance sheet, the proposed structure would separate ownership of the equipment from its use by SpaceX through a lease arrangement.
- Goldman Sachs and Apollo are seeking potential buyers for parts of the financing.
- Some investors have reportedly been asked to purchase stakes of up to $500 million.
- The equipment is expected to be delivered in the first half of 2027, with leases lasting slightly more than five years from delivery.
The transaction remains a reported financing effort rather than a completed syndication. Its final terms, participating investors and closing status were not disclosed in the information reported by Bloomberg and Reuters.
