InfraCompute / Deals
xAI: Apollo-led GPU acquisition and lease
Vendor or lease finance for xAI, US$3.5bn, 7 January 2026.
Key terms
- Borrower or issuer
- xAI
- Date
- 7 January 2026
- Structure
- Vendor or lease finance
- Amount
- US$3.5bn
- Pricing
- Not disclosed
- Tenor
- Five-year lease (reported)
What’s notable
Apollo-managed funds led a US$3.5bn capital package for a US$5.4bn acquisition of NVIDIA GB200 GPUs, leased to an xAI subsidiary for Colossus 2 on a reported five-year triple net lease. NVIDIA is an anchor investor in the Valor fund behind it. It is the first confirmed tranche of the Valor GPU vehicles reported at up to US$12.5bn of debt.
Recorded terms
- Tenor
- Five-year lease (reported)
- Security
- NVIDIA GB200 GPUs and data centre equipment
- Lenders and arrangers
- Apollo
- Tenant or offtaker
- xAI
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Sources
About this record
Compiled from the sources above. Terms are as announced and may have changed since. Methodology · Send a correction.
