The multi-year agreement adds Google to SpaceX’s growing list of AI infrastructure customers, strengthening its position ahead of a planned U.S. stock market debut.

SpaceX has signed a multi-year cloud services agreement with Google, adding another major technology customer to its growing artificial intelligence infrastructure business just days before its anticipated initial public offering.

The deal will see Google pay SpaceX approximately USD 920 million per month from October 2026 through June 2029 for computing capacity, according to a regulatory filing. The agreement includes access to roughly 110,000 Nvidia GPUs alongside CPUs, memory, and related computing infrastructure.

Why You Should Care

The agreement reinforces SpaceX’s emerging role as a major provider of AI computing infrastructure at a time when demand for processing power continues to outpace supply. It also strengthens the company’s investment narrative ahead of its planned U.S. stock market debut, where it is seeking to raise approximately USD 75 billion.

The addition of Google follows another high-profile agreement announced in May with AI company Anthropic, highlighting how access to large-scale computing capacity has become a strategic asset in the race to develop advanced AI models.

The Google contract is scheduled to begin ramping up before October at a reduced fee, with full capacity expected to be available by the end of September. If SpaceX fails to provide the agreed number of GPUs by September 30, Google would have the option to terminate the agreement after a one-month grace period or continue under revised pricing based on the available capacity.

The agreement builds on SpaceX’s broader AI infrastructure expansion, which has gained attention following Anthropic’s decision to use the full computing power of the company’s Colossus 1 facility in Memphis, Tennessee. That facility houses more than 220,000 Nvidia processors and is expected to provide Anthropic with an additional 300 megawatts of computing capacity.

Together, the Google and Anthropic agreements represent a substantial revenue stream for SpaceX. Based on their current terms, the two contracts are estimated to generate roughly USD 26 billion annually and more than Usd 70 billion in total value if both run through their scheduled end dates.

The Ripple 

The agreements underscore the growing competition among technology companies to secure access to advanced computing infrastructure as AI development accelerates. For cloud providers, AI developers, and chipmakers such as Nvidia, long-term compute contracts are becoming increasingly important as demand for processing power continues to rise.

The deals also signal that infrastructure providers are finding new ways to monetize large-scale data center investments beyond traditional cloud computing services.

What to Watch

Investors will likely pay close attention to the role AI infrastructure plays in SpaceX’s future growth story as the company approaches its public market debut. The sustainability of demand for large-scale compute capacity, along with the company’s ability to deliver and expand infrastructure on schedule, could become key factors in how the market evaluates its long-term prospects.