Google will pay SpaceX $920M per month for computing capacity

SpaceX disclosed in a regulatory filing that Google will pay it $920 million per month for computing capacity — the second large compute contract the company has lined up in recent weeks as it prepares to go public.

The terms

The agreement runs from October 2026 through June 2029 and covers access to "approximately 110,000 NVIDIA GPUs, CPUs, memory, and other related components," according to the filing. SpaceX did not say which of its data centers Google will use.

Compared with the Anthropic deal

The contract is similar in length and scope to the one SpaceX announced with Anthropic in late May, when the AI developer agreed to pay $1.25 billion per month through 2029 to rent all the available compute from Colossus 1 near Memphis, Tennessee — a facility that xAI, now part of SpaceX, originally built for its own AI work. Google's commitment appears to cover roughly half the volume Anthropic has access to there. SpaceX chief executive Elon Musk has previously said Colossus 2 would be reserved for xAI.

Why Google wants the capacity, and the exit clauses

A Google representative attributed the deal to stronger-than-expected demand: "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." Alphabet, Google's parent, has committed more than $180 billion in capital expenditure this year, expects that figure to rise significantly in 2027, and recently announced an $80 billion equity sale.

Both sides may terminate the agreement with 90 days' notice after December 31, 2026. Google's access ramps up "through September at a reduced fee," and if SpaceX fails to deliver the committed GPUs by September 30, 2026, Google may terminate immediately or accept fewer chips at reduced monthly fees after a one-month grace period.

The disclosure came a week before SpaceX shares are expected to begin trading on Nasdaq. Paperwork filed with the SEC indicates the company aims to raise about $75 billion at a valuation of roughly $1.75 trillion, which would be the largest listing on record. Alphabet, a long-time SpaceX investor, expects its stake to be worth more than $100 billion after the IPO, and the two companies are also reported to be discussing orbital data centers.