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Goldman, Apollo seek buyers for $40 billion SpaceX AI chip deal, Bloomberg News reports
Goldman Sachs and Apollo Global Management are approaching investors about buying portions of a roughly $40 billion financing deal for SpaceX’s AI chips. The arrangement would spread the financing among multiple investors and is designed to keep the debt off SpaceX’s balance sheet, supporting the company’s expanding computing needs.
Some investors have reportedly been asked to take stakes of up to $500 million before formal syndication begins. SpaceX said in October that an Apollo affiliate would buy AI chips and server hardware, then lease them to the company, with about $40 billion in principal payments over a little more than five years. Equipment delivery is expected in the first half of 2027; Reuters said it could not independently verify Bloomberg’s report.
In short
- Goldman and Apollo are seeking investors for SpaceX’s roughly $40 billion chip financing.
- Some potential buyers were asked to take stakes of up to $500 million.
- Equipment leases are expected to begin after delivery in the first half of 2027.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Spreading the financing across investors could help SpaceX secure the computing capacity it needs to expand its AI operations without concentrating the risk on one lender. Leasing the chips and keeping the debt off its balance sheet may also give the company flexibility to fund other priorities, while investors gain exposure to a large technology build-out.
The case against
A deal of this scale could leave investors carrying substantial risk if the chips lose value quickly, the technology becomes outdated or SpaceX’s computing plans fall short. Keeping the financing off the company’s balance sheet may also make its overall obligations harder to assess, while long-term principal payments could prove costly if the equipment does not generate expected returns.