Google paid SpaceX $920 million a month for compute capacity, according to a SpaceX filing with the SEC dated June 5. The deal runs at full rate from October 2026 through June 2029, giving Google access to approximately 110,000 Nvidia GPUs, CPUs, and memory. From now through September, Google pays a reduced fee as SpaceX ramps up capacity.
Google called it bridge capacity for Gemini Enterprise, its agent platform, where demand “has been even higher than we expected.” The underlying message: Google can’t build fast enough.
For comparison, Anthropic is paying SpaceX $1.25 billion a month through May 2029 for access to Colossus 1, its Memphis supercomputer. The Google deal covers roughly half the GPU count at roughly three-quarters the price, cheaper per chip but the same landlord.
Just two days before the SpaceX deal closed, Alphabet priced an $84.75 billion equity raise earmarked for AI infrastructure, upsized from $80 billion when investor demand outstripped expectations. At that scale, Google shouldn’t need to rent from anyone. The Gemini Enterprise demand spike is apparently faster than a $190 billion capex plan can absorb.
At full rate, SpaceX will collect at least $2.17 billion a month from Google and Anthropic alone. For an infrastructure company heading into an IPO, recurring revenue from two of the largest AI buyers on earth is an unusually strong prospectus line.
Google’s termination option kicks in after December 31. The earliest exit is around April 2027.
Diana Kowalski