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SpaceX IPO Heats Up with Massive AI Data Deals
9 Jun
Summary
- SpaceX secured $920 million monthly deal with Google for AI compute.
- Anthropic deal is for $1.25 billion per month for GPU capacity.
- SpaceXAI division contributes significantly to SpaceX's losses.
SpaceX is reportedly nearing its initial public offering (IPO) on June 12, 2026. In preparation, the company has secured substantial AI compute deals that are adding significant revenue. Alphabet's Google is set to pay $920 million per month for compute capacity from October 2026 through June 2029.
Furthermore, SpaceX has agreed to lease GPU capacity to Anthropic for $1.25 billion monthly at its Colossus 1 data center. These deals are crucial for SpaceX's valuation, especially as its AI division, SpaceXAI, has been a major source of losses, with costs accelerating in Q1 of 2026.
These new agreements introduce an additional $26 billion in annual run rate revenue for SpaceX. This move significantly de-risks the company's valuation from a 100x revenue multiple to approximately 40x, presenting a more favorable story for investors as the IPO approaches.
Analysts suggest that the timing of these deals aligns with the compute needs of Google and Anthropic. The substantial revenue generated from these data center leases is seen as a strategic move to enhance SpaceX's financial narrative ahead of its public offering, which is reportedly well oversubscribed.
