%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment SpaceX (NASDAQ: SPCX) has agreed to a roughly $40 billion equipment-finance lease with Apollo Global Management (NYSE: APO) to pay for the graphics processing units powering its artificial intelligence expansion, according to a regulatory filing Monday. Under a binding commitment letter disclosed in a Form 8-K with the U.S. Securities and Exchange Commission, an Apollo-managed entity will acquire the equipment and lease it to SpaceX through a master finance lease. The company projects that aggregate principal payments across the lease schedules will total about $40 billion. The equipment will be delivered in tranches, each with its own lease schedule running roughly five to five-and-a-quarter years, with payments due quarterly in advance. SpaceX expects the schedules to begin in the first half of 2027 once deliveries start. The fixed rate the company will pay has not been set and will be determined at pricing, SpaceX noted, adding that it expects the deal to close before year-end, subject to closing conditions. Elon Musk promoted the financing over the weekend in a post on X, pointing to its role in funding purchases of Nvidia Corp. (NASDAQ: NVDA) GPUs. Bloomberg reported Sunday that although Musk claimed the deal had closed, negotiations were still underway. The debt is being structured as private bonds issued by an off-balance-sheet entity, Bloomberg reported, adding that a turbulent week for AI borrowers in credit markets complicated pricing talks. Investors have pushed for larger premiums to fund the AI build-out amid mounting concern over heavy spending and limited profits so far. The Financial Times reported last week that the $40 billion package would be split between roughly $10 billion in bank loans and $30 billion in investment-grade debt. The financing follows SpaceX's record $86 billion initial public offering in June and a $25 billion investment-grade bond sale shortly afterward. SpaceX also holds bitcoin on its balance sheet. The company reported 18,712 BTC with a fair value of $1.29 billion at the end of the first quarter, its IPO filing showed. Shares of SpaceX (NASDAQ: SPCX) are currently trading at $146.90.