SpaceX enters $40 billion deal with Apollo for AI chip financing

SpaceX said on Monday an affiliate of Apollo Global Management will buy AI chips and server hardware and lease them to the rockets-to-AI firm, in a deal with total principal payments of about $40 billion.

Each lease will run a little over five years from the day the equipment arrives, according to a regulatory filing.

The deal highlights SpaceX’s heavy spending, as it tries to capitalize on surging demand for computing power to help bankroll its Moon and Mars ambitions.