SpaceX discloses $40 billion Nvidia GPU lease commitment in SEC filing
In a new SEC filing, SpaceX disclosed a binding $40 billion commitment to lease Nvidia GPUs from Apollo. Apollo will use private placement bonds to purchase the GPUs and related equipment, then lease them to SpaceX in tranches; quarterly rent covers 5% of each tranche's cost plus fixed-rate interest, with principal repaid over 5 to 5.25 years. The deal is expected to close by the end of the year, with leasing commencing as GPUs arrive in the first half of 2027. SpaceX says this is the largest committed GPU financing, exceeding a $36 billion note transaction used to purchase and lease to Anthropic.
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The payment and lease-term structure of this $40 billion GPU lease commitment can serve as a concrete sample for observing how compute financing operates.
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SpaceX’s new SEC filing reveals a binding $40B commitment to lease Nvidia GPUs from Apollo.
The Apollo vehicle will buy the pods and related equipment with private bonds, then lease each delivered tranche to SpaceX.
Quarterly rent covers 5% of each tranche’s cost plus fixed-rate interest still to be priced, clearing principal within 5 to 5.25 years.
Closing is expected by year-end, with leases starting as GPUs arrive in the first half of 2027.
SpaceX calls it the largest committed GPU financing, ahead of a $36B notes deal used to buy and lease GPUs to Anthropic.