Apollo → xAI: $12.5B funds & debt

GPU debt for Colossus 2. Apollo and Diameter Capital arrange $12.5 billion of debt for a vehicle that buys Nvidia GPUs and leases them to xAI for 5 years (Colossus 2, Memphis). The debt is secured by the GPUs.

This deal is 22% of everything Apollo pays and 8% of everything xAI receives in this database.

Date

Oct 8, 2025

Paid by

Apollo

Received by

xAI

Type

Funds & debt

Amount

$12.5B

Status

reported

Note

SPV total debt (Apollo and Diameter arrangers)

See on the map