SpaceX Lands $30B Google AI Deal Before Record IPO, June 06

SpaceX signed a $30 billion deal with Google to provide AI computing capacity, with Google paying $920 million per month from October 2026 through June 2029. The agreement covers 110,000 Nvidia GPUs housed in SpaceX’s data centers. The deal comes days before SpaceX’s record IPO on June 12, valued at $1.8 trillion, and follows a similar $1.25 billion monthly pact with AI firm Anthropic announced last month.

Google Pays $920 Million Monthly for GPU Access

Google will pay SpaceX $920 million per month starting October 2026 through June 2029 for access to approximately 110,000 Nvidia GPUs and supporting infrastructure. The total contract value reaches roughly $30 billion over its life. Google will ramp up capacity through September at a reduced fee before full payments begin in October.

Why Google Needs the Computing Power

A Google Cloud spokesperson stated the deal ensures “bridge capacity to meet surging customer demand for our agent platform, Gemini Enterprise, which has been even higher than we expected.” Google introduced Gemini Enterprise subscriptions for large businesses in October 2025. Google will use the GPUs to power its AI models as demand for enterprise AI tools accelerates.

SpaceX Monetizes Data Centers Built for xAI

SpaceX built the Colossus data centers in Memphis, Tennessee originally to power xAI, Elon Musk’s AI venture. The company merged with xAI in February 2026 in a deal valuing the combined entity at $1.25 trillion. SpaceX now leases capacity from these facilities to multiple AI companies. The Google deal marks the second major infrastructure pact after Anthropic agreed to lease compute capacity for $1.25 billion monthly last month.

IPO Timing Boosts SpaceX’s Financial Story

SpaceX’s IPO launches June 12 at $135 per share, targeting a record $75 billion raise and $1.8 trillion valuation. The Google and Anthropic deals demonstrate revenue generation from data center operations, addressing investor concerns about xAI’s losses. xAI posted a $6.4 billion operating loss on $3.2 billion revenue in 2025. The contracts show SpaceX converting infrastructure investments into recurring revenue streams ahead of the public offering.

Final Thoughts

SpaceX’s $30 billion Google deal demonstrates the company is generating substantial recurring revenue from its data center investments. The timing strengthens SpaceX’s IPO narrative by showing tangible returns on infrastructure spending before the June 12 public offering.

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