SpaceX is continuing to expand its AI compute services ahead of its historic stock market debut. The company recently closed a new deal with Google, under which Google will pay SpaceX $920 million monthly for access to AI compute services.
According to documents filed with regulators on Friday (5 Jun 2026 GMT+7), under this agreement Google will pay SpaceX $920 million each month from October 2026 through June 2029 in exchange for access to over 110,000 AI compute units. These units will include NVIDIA GPUs, CPUs, memory, and other related hardware.
This deal is another major announcement just one week before SpaceX's shares are scheduled to begin trading on the Nasdaq as planned.
The agreement with Google resembles the deal SpaceX announced with Anthropic in late May. In that deal, Anthropic agreed to pay SpaceX up to $1.25 billion per month through 2029 to lease all available compute capacity at the Colossus 1 data center near Memphis, Tennessee.
Colossus 1 was originally built by xAI, now part of SpaceX, to support the company's own AI development projects.
Comparatively, Google's deal appears to secure about half the compute power that Anthropic obtained from Colossus 1.
However, SpaceX has not disclosed which data center Google will use. Elon Musk, the company's CEO, previously indicated that SpaceX intends to reserve Colossus 2 mainly for xAI's internal use.
Before the SpaceX agreement, Anthropic faced significant compute capacity constraints and immediately raised its AI service usage limits upon announcing the deal.
Google's situation is quite different, as many analysts consider it one of the largest holders of AI compute power worldwide.
A Google representative stated that this agreement results from higher-than-anticipated demand for their next-generation AI products.
“Google Cloud and SpaceX have been long-term partners. This agreement is a short-term collaboration during a critical period to provide additional compute resources to meet the demand from customers using our Gemini Enterprise AI Agent platform, which has proven more popular than expected,” Google said.
Additionally, Google's parent company, Alphabet, continues its substantial AI investments, having announced capital expenditures exceeding $180 billion this year, with expectations for significant increases in 2027.
To support these massive investments, Alphabet recently announced plans to raise $80 billion through a new stock offering.
Similar to the Anthropic deal, the SpaceX-Google agreement includes provisions allowing either party to terminate the contract. After 31 December 2026, both SpaceX and Google may end the agreement with 90 days' prior notice.
The documents further state that Google will gradually gain access to the data center before September, paying a reduced service rate during this initial phase.
SpaceX also committed to delivering the agreed number of GPUs by 30 September 2026. Should it fail to meet this deadline, there is a one-month grace period after which Google may cancel the contract or accept the available GPUs with a proportional reduction in monthly fees.
Previously, filings with the U.S. Securities and Exchange Commission showed SpaceX aims to raise approximately $75 billion, valuing the company around $1.75 trillion. If successful, this would be the largest IPO in history by value.
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Google has been a key long-term investor in SpaceX. After the IPO, Google's stake in SpaceX is expected to be worth over $100 billion.
Reports also indicate that the two companies are discussing plans to develop orbital data centers, a strategic growth initiative for SpaceX post-IPO.
Source:TechCrunch
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