SpaceX has locked in its second massive AI compute contract in two months, this time with Google. The multi-year deal with Alphabet will see Google pay approximately $30 billion for access to 110,000 Nvidia GPUs in SpaceX data centers, starting October 2026.
This follows a larger contract with Anthropic, valued at $45 billion over three years, granting exclusive access to SpaceX's Colossus 1 facility in Memphis. That facility houses over 220,000 Nvidia GPUs.
Combined, the two deals generate about $26 billion in annual recurring revenue for SpaceX. The infrastructure was originally built for Elon Musk's xAI initiative, but has since been converted to external customer use.
SpaceX has its IPO scheduled for June 12 at a target valuation of $1.75 trillion, seeking a $75 billion raise. The company enters its roadshow with a strong revenue backlog.