Goldman and Apollo Shop SpaceX's $40B AI Chip Financing to Investors Ahead of Formal Syndication

Goldman Sachs and Apollo Global Management are in private talks with investors to sell portions of SpaceX's roughly $40B multi-tranche chip financing, with some asked to take stakes of up to $500M before formal syndication opens. The off-balance-sheet structure is the largest-ever GPU financing and will fund $47.3B of hardware — including Nvidia Rubin chips due in H1 2027 — leased back to SpaceX for about five years. The sell-down lands the same week data-center debt markets are cracking after Democrats' congressional sweep.