Goldman Sachs and Apollo Global Management are in talks with investors to sell portions of a financing arrangement worth approximately $40 billion for SpaceX’s artificial intelligence (AI) chips, as per reports.

According to the report, the two financial firms have begun approaching potential buyers for the multi-tranche financing deal. Some investors have reportedly been asked to consider purchasing stakes worth up to $500 million ahead of the formal syndication process.

The financing arrangement is structured to keep the debt off SpaceX’s balance sheet, making it the largest deal of its kind involving graphics processing units (GPUs) on record.

SpaceX disclosed in October that an affiliate of Apollo Global Management would purchase AI chips and server hardware and subsequently lease the equipment to the company under an arrangement involving approximately $40 billion in principal payments.

The lease agreements are expected to run for slightly more than five years from the delivery of the equipment, which is anticipated in the first half of 2027.

The arrangement is designed to support SpaceX’s rapidly growing computing requirements as the company expands its artificial intelligence operations and invests in the infrastructure needed to power its AI ambitions.

The deal highlights the growing role of private credit and structured financing in funding large-scale AI infrastructure investments.

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As demand for advanced computing power increases, major technology companies are increasingly exploring alternative financing arrangements to secure expensive chips, servers and data centre equipment without directly adding significant debt to their balance sheets.

The reported effort by Goldman Sachs and Apollo to bring investors into the transaction also underscores the scale of capital required to support the next phase of AI development.