SpaceX has signed a large-scale cloud computing agreement with Google that will see the technology giant pay $920 million every month for access to high-end AI infrastructure. The deal comes at a critical moment as SpaceX prepares for its upcoming initial public offering scheduled for June 12.
The agreement gives Google access to a vast computing setup that includes about 110,000 Nvidia graphics processing units along with supporting CPUs, memory systems and related hardware. The infrastructure is designed to support advanced AI model training and deployment at scale.
The contract is structured to run until June 2029. Total payments across the full term are projected at nearly $30 billion. Google is set to begin full monthly payments from October 2026. Reduced charges will apply during a transition phase before that period.
The deal strengthens SpaceX’s financial position as it moves toward its public listing. Regulatory filings also suggest that SpaceX is targeting a valuation of around $75 billion through the IPO process.
The Google agreement adds to SpaceX’s growing footprint in AI-linked computing services. The company has also signed a separate arrangement with Anthropic. That deal gives Anthropic access to computing capacity at SpaceX’s Colossus data center in Memphis, Tennessee, for $1.25 billion per month.
Together, the compute contracts linked to Google and Anthropic are valued at roughly $26 billion annually. SpaceX filings place the combined long-term value of these agreements above $70 billion, subject to contract terms and continuation.
The agreement includes performance conditions tied to GPU delivery. If SpaceX fails to meet agreed capacity levels by a set deadline, Google may either terminate the contract or adjust payments based on delivered resources after a short grace period.
Both parties also retain exit options after December 31, with a 90-day notice period required for termination. A Google Cloud spokesperson said the arrangement supports temporary capacity needs linked to rising demand for its AI platform Gemini Enterprise. The company also noted that either side can end the agreement with notice after the initial period.
The deal highlights rising competition in AI infrastructure, where cloud capacity and advanced chips have become central assets. For SpaceX, the agreement adds a strong revenue stream ahead of its market debut. For Google, it expands access to large-scale computing power at a time when demand for AI services continues to climb.
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