SpaceX Lands $30B Google AI Compute Deal Ahead Of Record IPO

• The deal grants Google access to approximately 110,000 NVIDIA GPUs, along with associated CPUs, memory, and related infrastructure components.
• Google has committed to paying SpaceX $920 million per month from October 2026 through June 2029. 
• This Google agreement marks the latest example of SpaceX monetizing large-scale AI infrastructure.

Elon Musk’s Space Exploration Technologies Corp. (SpaceX) has revealed a significant new revenue-generating agreement with Google LLC as part of its ongoing preparations for an initial public offering.

In a filing with the U.S. Securities and Exchange Commission, SpaceX said it signed a Cloud Service Agreement on Friday, under which Google will gain access to substantial AI compute capacity.

The deal grants Google access to approximately 110,000 NVIDIA GPUs, along with associated CPUs, memory, and related infrastructure components. Google has committed to paying SpaceX $920 million per month from October 2026 through June 2029—a period spanning roughly 33 months and potentially generating more than $30 billion in total revenue at full rate. Capacity will ramp up through September at reduced fees.

If SpaceX fails to deliver the full committed GPU capacity by September 30, Google has a one-month grace period after which it may terminate the agreement outright or accept the delivered capacity with a pro-rata reduction in monthly fees. After December 31, either party may terminate the contract with 90 days’ written notice. Google will retain full ownership of, and intellectual property rights in, its content, AI models, and related data, the filing said.

Anthropic Deal

This Google agreement marks the latest example of SpaceX monetizing large-scale AI infrastructure.

In May, SpaceX disclosed an even larger compute-capacity deal with Anthropic, the AI company behind the Claude models. Under that agreement, Anthropic committed to paying $1.25 billion per month through May 2029 for access to compute across SpaceX’s Colossus and Colossus II facilities—totaling roughly $45 billion over three years.

SpaceX IPO

SpaceX is poised for the largest IPO in history, targeting a Nasdaq listing under ticker SPCX on June 12, 2026, at $135 per share. The offering of roughly 556 million Class A shares is expected to raise $75 billion at a $1.77 trillion valuation. Proceeds will fuel AI compute expansion, Starlink growth, and Mars ambitions, with Elon Musk retaining voting control amid huge demand. Earlier on Friday, it was reported that the IPO is already oversubscribed. 

On Stocktwits, retail sentiment around SPCX has jumped from ‘bullish’ to ‘extremely bullish’ over the past week, while message volume stayed at ‘extremely high’ levels. 

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