SpaceX has lined up another major compute deal ahead of its historic IPO — this time with Google — under which the search giant will pay $920 million a month for access to roughly 110,000 NVIDIA GPUs and related infrastructure.
SpaceX announced the deal in a regulatory filing on Friday. Under the terms of the agreement, Google will pay $920 million per month from October 2026 through June 2029 for access to “approximately 110,000 NVIDIA GPUs, CPUs, memory, and other related components.”
The deal is similar in length and scope to the agreement SpaceX announced with Anthropic in late May. Anthropic agreed to pay SpaceX $1.25 billion per month through 2029 to rent all the available compute from the Colossus 1 data centre near Memphis, Tennessee — which xAI, now part of SpaceX, originally built for its own AI efforts. Google’s deal appears to cover roughly half the amount of compute Anthropic has access to at Colossus 1. SpaceX did not specify which data centre Google would be using. CEO Elon Musk has previously suggested his company would reserve the newer Colossus 2 data centre for xAI.
Anthropic was significantly compute-constrained before its SpaceX deal, lifting user usage limits on the day the agreement was announced. Google is in a very different position — some estimates name it as the world’s largest single owner of AI compute. A Google representative described the deal as a result of unexpected demand for its recently launched AI products. “Google Cloud and SpaceX are long-time partners,” the company said in a statement. “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.”
Even so, parent company Alphabet is on a major spending spree. Alphabet has already committed to more than $180 billion in capital expenditure this year and has said it expects that figure to “significantly increase” in 2027. To help finance that, Alphabet recently announced an $80 billion equity sale.
Like the Anthropic deal, the agreement with Google includes a cancellation clause. Both SpaceX and Google have the option to terminate the agreement with 90 days’ notice after Dec. 31, 2026. Google’s access to the data centre will ramp up “through September at a reduced fee,” according to the filing. “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 reduction in monthly fees, the filing reads.
SpaceX announced the deal just one week before the company’s stock is expected to begin trading on the Nasdaq exchange. Paperwork filed with the Securities and Exchange Commission shows SpaceX is aiming to raise around $75 billion at a valuation of around $1.75 trillion — making it the largest IPO in history.
Google is a longtime investor in SpaceX. Its stake in Musk’s company is expected to be worth more than $100 billion after the IPO. The companies are also reportedly in talks to build orbital data centres — a major component of SpaceX’s future plans post-IPO.
