MUSK CALLED THE $40B CLOSED — THE FILING SAYS THE LEASE ISN'T SIGNED

SpaceX said on October 26 that it has reached a binding commitment to enter into an approximately $40 billion master finance lease with an entity managed by Apollo Global Management, for Nvidia's next-generation Vera Rubin GPUs and related equipment for its terrestrial compute buildout — a deal the company calls the largest committed GPU financing.

The lease is not a done deal yet: entry into it remains subject to closing conditions and is expected to close before the end of 2026, with lease schedules starting when the GPUs are delivered in the first half of 2027. That is a day after Musk said on X that SpaceX had closed $40 billion in financing for the chips.

Apollo and Goldman Sachs led the financing, with Goldman as sole structuring agent and BlackRock, Goldman Sachs Asset Management and KKR making anchor commitments. SpaceX's CFO said the company is seeing payback periods of less than a year on its super-intelligence infrastructure spending.