SpaceX has secured $40 billion in financing to purchase AI chips for its data centers. Entities managed by Apollo Global Management will acquire these chips and provide them to SpaceX via a financing lease. SpaceX is expected to repay the approximately $40 billion principal quarterly over about five years, with the interest rate yet to be determined. The leases will take effect in batches starting in the first half of 2027. Musk stated that the debt market has, in recent weeks, largely ceased providing funds to companies lacking significant revenue outside of AI data centers, thus most "neoclouds" will face collapse and consolidation. He noted that SpaceX has an investment-grade rating and revenue from Starlink and its launch business. CoreWeave's recent stock price decline and approximately $50 billion in debt have further intensified market concerns about an oversupply of AI hashrate and industry consolidation.