Goldman, Apollo market slices of SpaceX’s $40 billion AI deal
The financing includes an $8.3 billion secured loan and bond tranches tied to Nvidia chip purchases expected in 2027.
Key takeaways
- Goldman Sachs and Apollo are seeking buyers for portions of a roughly $40 billion financing deal.
- The financing includes an $8.3 billion senior secured loan and several bond tranches.
- The equipment purchase involves Nvidia Rubin chips expected to be delivered in the first half of 2027.
Goldman Sachs and Apollo Global Management are approaching investors to sell portions of a roughly $40 billion financing arrangement for SpaceX’s AI chips, Bloomberg News reported. Reuters said it could not independently verify the report.
Some investors have been asked to buy stakes of up to $500 million before formal syndication begins, according to the reports. Bloomberg HT, citing sources, said syndication is expected to start soon.
The financing has several parts, including an $8.3 billion senior secured loan to be syndicated to banks and bond tranches for asset managers, Bloomberg HT reported. Goldman is leading the loan, while Apollo is the main investor in the bonds; Pacific Investment Management Co. is also involved, according to the report.
Documents cited by Bloomberg HT show the package, alongside $7 billion in lease prepayments, will fund the purchase of about $47.3 billion in GPU equipment. The equipment consists of Nvidia’s latest Rubin chips, with delivery expected in the first half of 2027.
SpaceX said in October that an Apollo affiliate would buy AI chips and server hardware, then lease them to the company. The leases are expected to run for a little over five years from delivery, CNA reported. The arrangement is structured to keep debt off SpaceX’s balance sheet, according to Bloomberg HT.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
