In its latest regulatory filing, SpaceX disclosed that Google has entered into a long-term compute leasing agreement with it. According to the filing, Google will pay $920 million per month from October 2026 through June 2029 for access to approximately 110,000 NVIDIA GPUs, CPUs, memory, and related components. This contract, revealed one week before SpaceX’s anticipated Nasdaq listing, further highlights the revenue potential of its AI infrastructure business.
The contract covers approximately 110,000 GPUs.
The documents show that the resources associated with this agreement include approximately 110,000 NVIDIA GPUs, along with CPUs, memory, and other supporting hardware. Google will gradually integrate these data center resources by September 2026, during which time fees will be minimal, followed by the start of full billing.
If SpaceX fails to deliver the committed number of GPUs by September 30, 2026, Google may, after a one-month grace period, choose to immediately terminate the agreement or accept the delivered resource scale and proportionally reduce the monthly fee.
- Official Paid Period: October 2026 to June 2029
- Monthly fee: $920 million
- Resource scale: Approximately 110,000 GPUs and related components
Either party may terminate the agreement after the end of 2026.
The agreement also includes termination clauses. After December 31, 2026, both SpaceX and Google may terminate the contract by providing 90 days’ prior notice. This means that although the agreement spans multiple years, both parties retain the flexibility to adjust their arrangements.
TechCrunch noted that this arrangement is similar to another major computing contract previously disclosed by SpaceX. In late May, Anthropic agreed to pay $1.25 billion per month to lease computing resources from SpaceX’s Colossus 1 data center near Memphis, Tennessee, with the contract also extending through 2029.
Continue expanding computing power revenue before the IPO
Compared to the contract with Anthropic, Google’s recent allocation of computing power is somewhat smaller but still qualifies as a massive AI infrastructure order. SpaceX has not specified which data center Google will use. Musk previously stated that the Colossus 2 data center will be prioritized for xAI use, and xAI has now been integrated into SpaceX.
The regulatory filing also shows that SpaceX plans to raise approximately $75 billion through this IPO, with a valuation of around $1.75 trillion. If successfully executed, this would become one of the largest IPOs in history.
Google is also a long-term investor in SpaceX. Reports suggest that after SpaceX’s IPO, Google’s stake could be worth over $100 billion. In addition to computational power collaboration, the two companies are reportedly discussing the development of an orbital data center, which is part of SpaceX’s post-IPO business plan.
Additional information: TechCrunch reported that both contracts between Google and Anthropic include similar early termination clauses, indicating that SpaceX currently favors an adjustable long-term leasing model when selling computing power externally.