SpaceX Locks Down $920 Million Monthly Google AI Deal as IPO Looms.

Just days before its long awaited U.S. stock market debut, SpaceX announced a major cloud computing deal with Google, owned by Alphabet. Starting in October and running through June 2029, Google will pay SpaceX a hefty $920 million each month for computing power. The fee will be lower during a ramp up period through September.

What’s Google getting for that money? Access to roughly 110,000 Nvidia GPUs, plus CPUs, memory, and other hardware.

This isn’t SpaceX’s first AI focused partnership. Last month, AI company Anthropic maker of the Claude chatbot signed on to use the full computing capacity of SpaceX’s Colossus 1 facility in Memphis, Tennessee. That site houses over 220,000 Nvidia processors and will deliver 300 megawatts of new capacity within 30 days.

Combined, the annual value of SpaceX’s compute deals with Google and Anthropic is about $26 billion. If both contracts run their full term without cancellation, they’re worth more than $70 billion in total.

The agreement also has safeguards: If SpaceX fails to deliver the promised number of GPUs by September 30 (plus a one month grace period), Google can walk away or accept a reduced number with lower monthly fees. After December 31, either side can terminate with 90 days’ notice. Google keeps ownership and intellectual property rights to its own content, AI models, and data.

With these partnerships, SpaceX is strengthening its AI story as it aims to raise $75 billion in its upcoming IPO.