Spacex Secures $40B as Musk Predicts Most Neoclouds Will Fail

Spacex has secured a roughly $40 billion equipment financing commitment as CEO Elon Musk predicts failures among specialized AI cloud providers. The conditional agreement would fund computing hardware, with deliveries expected in the first half of 2027. Apollo Global Management disclosed the approximately $40 billion equipment financing commitment on Oct. 26, following Spacex CEO Elon Musk’s comments on X a day earlier. The rocket, satellite internet, and AI company entered a binding commitment for an equipment lease, with closing expected before year-end, subject to specified conditions.

Source: Bitcoin.com News