Space Exploration Technologies plans $40 billion GPU equipment lease with Apollo entity
On October 24, 2026, the company entered into a binding commitment letter for a master finance lease with an entity managed by Apollo Global Management, which will acquire and lease GPU pods and related equipment for company-selected data centers. The company expects aggregate principal payments under the lease schedules to total approximately $40 billion, which is a large long-term financing obligation. The deal is subject to closing conditions and is expected to close before year end, so its terms and timing could still change.
Key points
- Binding commitment letter dated October 24, 2026 for a master finance lease with an entity managed by Apollo Global Management
- Expected aggregate principal payments of approximately $40 billion over the lease schedules
- Each tranche has a lease term of about five to five and one-quarter years, with quarterly rent paid in advance at a fixed rate to be set at pricing
- Closing is expected before year end 2026; lease schedules are expected to commence in the first half of 2027 upon GPU delivery
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.