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Goldman and Apollo seek buyers for parts of SpaceX’s $40 billion GPU lease

6 NOVEMBER 2026·2 MIN READ·3 SOURCES

Goldman Sachs and Apollo Global Management have begun approaching investors about buying portions of a financing tied to SpaceX’s approximately $40 billion GPU lease, Bloomberg reported. SpaceX says the lease is a binding commitment with an Apollo-managed entity, subject to closing conditions.

Goldman and Apollo seek buyers for parts of SpaceX’s $40 billion GPU lease

Key takeaways · 3

  • 01

    Goldman Sachs and Apollo are approaching potential buyers to sell portions of the multi-tranche financing, according to Bloomberg.

  • 02

    SpaceX expects closing before the end of 2026 and equipment delivery in the first half of 2027.

  • 03

    SpaceX says the additional compute will support Grok users and existing and future cloud-services customers.

Timing and planned use

SpaceX says the lease will provide NVIDIA’s next-generation Vera Rubin chips for its terrestrial compute buildout.[1] The company expects the lease to close before the end of 2026, subject to specified closing conditions.[1] Lease schedules are expected to begin when the GPUs and related equipment are delivered in the first half of 2027.[1] SpaceX says the additional compute will power Grok for enterprise and consumer users and serve existing and future cloud-services customers.[1]

Funding structure and company rationale

Bloomberg reported that the deal was structured to keep the debt off SpaceX’s balance sheet.[2] SpaceX said financing parties are led by Apollo and Goldman Sachs, while capital accounts advised by KKR also made an anchor commitment.[1] SpaceX described the financing as diversifying its funding sources and said it aims to get additional compute online at record speeds.[1] The company also said it aims to deploy the world’s largest compute infrastructure.[1] A speaker cited payback periods of less than a year on the company’s SI infrastructure investments.[1]

For finance teams, the reported syndication process and off-balance-sheet structure make the allocation of financing risk worth understanding alongside the headline commitment. For technology leaders, the announced delivery window and intended uses offer a timeline to consider when assessing compute plans, while the lease remains subject to closing conditions.

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How this developed

  1. 6 November 2026

    Goldman and Apollo seek buyers for parts of SpaceX’s $40 billion GPU lease

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