Apollo Global Management purchased $40 billion worth of Nvidia Vera Rubin chips to lease to SpaceX. The private-equity giant is entering the AI chip market through this transaction. The deal highlights Elon Musk’s significant ambitions in the AI race.
SpaceX will lease the chips from Apollo through a subsidiary. Goldman Sachs and Apollo are in talks to sell portions of the chip financing deal. A supersized Apollo deal announced in June also involves Broadcom and Blackstone.
The financing structure allows SpaceX to access advanced hardware without immediate capital expenditure. This partnership gives Apollo a major foothold in the high-stakes AI infrastructure market. Investors should watch how the Goldman Sachs involvement shapes the deal’s final terms.
