SpaceX has finalized another major compute agreement ahead of its anticipated initial public offering, this time with Google. The arrangement was disclosed in a regulatory filing submitted Friday.
Under the agreement terms, Google will pay SpaceX $920 million per month from October 2026 through June 2029 for access to approximately 110,000 NVIDIA GPUs, CPUs, memory, and associated infrastructure components.
The deal mirrors the length and scope of the arrangement SpaceX announced with Anthropic in late May. In that agreement, Anthropic committed to paying SpaceX $1.25 billion monthly through 2029 to lease all available compute capacity from the Colossus 1 data center near Memphis, Tennessee — a facility originally built by xAI, now part of SpaceX, for its own artificial intelligence initiatives.
Google’s agreement appears to cover roughly half the compute capacity that Anthropic secured at Colossus 1. SpaceX did not specify which data center Google would utilize. Chief Executive Elon Musk has previously indicated that the Colossus 2 facility would be reserved for xAI operations.
Anthropic had been significantly constrained in compute capacity prior to its SpaceX deal, lifting usage limits the same day the agreement was announced. Google occupies a markedly different position, with some estimates identifying it as the world’s largest single owner of AI compute infrastructure.
In a statement, a Google representative characterized the deal as a response to unexpected demand for recently launched AI products. “Google Cloud and SpaceX are long-time partners,” the company said. “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.”
Nevertheless, parent company Alphabet is pursuing an aggressive capital expenditure strategy. Alphabet has already committed more than $180 billion in capital expenditures this year and has signaled that figure will “significantly increase” in 2027. To support this spending, Alphabet recently announced an $80 billion equity offering.
Similar to the Anthropic agreement, the Google contract includes a termination clause. Both parties may cancel the agreement with 90 days’ notice after December 31, 2026. According to the filing, Google’s access to the data center will ramp up through September at a reduced fee.
“If we fail to deliver access to the committed amount of GPUs by September 30, 2026, then following a one-month grace period, Google may immediately terminate the agreement or accept the number of GPUs provided” with a corresponding reduction in monthly fees, the filing states.
SpaceX disclosed the agreement one week before its shares are expected to begin trading on the Nasdaq exchange. Securities and Exchange Commission filings indicate the company aims to raise approximately $75 billion at a valuation near $1.75 trillion — which would constitute the largest IPO in history.
Google has been a longtime investor in SpaceX. Its stake in Musk’s company is projected to exceed $100 billion in value following the public offering. The two companies are also reportedly in discussions to develop orbital data centers — a cornerstone of SpaceX’s post-IPO strategic roadmap.