SpaceX has signed a massive cloud computing deal with Google worth $920 million per month, according to a report by Phys.org. The agreement gives Google access to a large cluster of AI chips to power its Gemini AI models, with the full monthly payments beginning in October 2026.
The deal was disclosed in SpaceX's initial public offering filing and covers a computing infrastructure of approximately 110,000 Nvidia GPUs. A reduced fee will apply during a ramp-up period until October, when the full rate kicks in. The contract runs through June 2029, putting the total value of the agreement at roughly $30 billion over its lifetime.
A Google Cloud spokesperson described the deal as a bridge measure. "This is a short-term, timely agreement to ensure we have bridge capacity to meet surging customer demand for our agent platform, Gemini Enterprise, which has been even higher than we expected," the spokesperson said in an email to AFP.
The Google agreement is not the only deal of its kind. SpaceX also struck a similar arrangement with AI company Anthropic, leasing compute capacity at its Colossus data centers in Memphis, Tennessee for $1.25 billion per month. Those facilities were originally built to support Musk's AI venture, xAI. The IPO filing revealed that xAI posted an operating loss of $6.4 billion last year on total revenue of $3.2 billion.
The filing also notes that after December 31, the Google agreement may be terminated by either party with 90 days' notice.
Both deals come just days before SpaceX's planned IPO on June 12, which is expected to be the largest in history. The company is being valued at $1.8 trillion. That figure rests heavily on the projected growth of its Starlink satellite business, potential space-based data centers, and Musk's long-stated goal of colonizing Mars.
The back-to-back computing contracts with two of the biggest names in AI add a significant new revenue stream to SpaceX's finances as it prepares for its public debut.
