SpaceX is days away from going public on the Nasdaq, and it just disclosed a deal that could reshape how investors think about the company.
According to a report by Yahoo Finance, SpaceX has signed a landmark cloud and AI infrastructure agreement with Alphabet's Google. The deal gives Google access to a large AI data center built around high-performance Nvidia GPUs that SpaceX has already built or is rapidly scaling. The total value of the agreement runs north of $30 billion.
At the core of the arrangement, SpaceX is leasing a cluster of approximately 110,000 Nvidia GPUs, along with CPUs, memory, and supporting infrastructure to Google. Google secures computing capacity without bearing the full construction cost or capital risk of building it. For SpaceX, the deal converts existing infrastructure into predictable revenue from one of the most recognizable corporate customers in the world.
The timing is deliberate. SpaceX is scheduled to begin trading Friday, and investors have been pressing the company to demonstrate that it can generate recurring revenue beyond rocket launch contracts and Starlink subscriptions. A blue chip reference customer paying nearly $1 billion per month helps that case.
Under the terms of the deal, SpaceX will ramp up its GPU cluster at a reduced rate running through September. Full commercial capacity is scheduled to come online in October, and the agreement runs through June 2029. That works out to roughly 33 months of peak operations. During that period, Google will pay SpaceX $920 million per month.
The contract includes a performance clause tied to the September ramp-up. If SpaceX cannot deliver the full committed GPU count by September 30, it receives a one-month grace period. After that, Google can either walk away or accept a lower capacity at a prorated monthly fee. After December 31, either company can terminate the agreement with 90 days' notice.
The deal also signals a significant shift in what SpaceX actually is as a company. Its core business has long centered on rockets, satellites, and Elon Musk's ambitions for Mars. Leasing a 110,000-GPU computing cluster to a hyperscaler is a different kind of business entirely. It puts SpaceX in direct competition with established cloud infrastructure providers at a moment when Nvidia GPU access is one of the scarcest and most expensive resources in the AI industry.
AI developers are pushing to train larger generative models and deploy inference at scale. Hyperscalers like Google face relentless demand for computing power they can supply to customers. Nvidia's hardware remains the standard for model training and inference, but supply remains tight. That scarcity is part of what makes SpaceX's existing cluster valuable enough to command nearly $1 billion a month from one of the world's largest technology companies.
SpaceX's IPO is set for Friday on the Nasdaq.
