- SpaceX signed a $920 million-per-month contract with Google, disclosed in an SEC filing.
- The deal runs October 2026 through June 2029 — potentially around $30 billion total — giving Google access to about 110,000 Nvidia AI chips.
- Google called it a “short-term, timely agreement” for “bridge capacity” for its Gemini Enterprise platform.
- The disclosure lands days before SpaceX’s IPO, targeting a valuation above $1.7 trillion.
What Happened
SpaceX signed a $920 million per month contract with Google, according to an SEC filing reported by The Decoder. The deal runs from October 2026 through June 2029, potentially netting SpaceX around $30 billion, and gives Google access to roughly 110,000 Nvidia AI chips.
A Google Cloud spokesperson told the New York Times it was a “short-term, timely agreement to ensure we have bridge capacity” for its Gemini Enterprise agent platform.
Why It Matters
The arrangement confirms SpaceX as a major AI-infrastructure provider, not just a launch company — a key part of the story behind its $1.75 trillion IPO. It follows a prior $1.25 billion monthly deal SpaceX struck with Anthropic, mirroring the lease-back logic of the Apollo-Blackstone chip financing.
Google holds about 5% of SpaceX, giving it a direct stake in a strong market debut.
Technical Details
The contract covers approximately 110,000 Nvidia chips over a roughly 32-month term. At $920 million monthly, the headline value approaches $30 billion across the full period. Google framed the capacity as a bridge for its Gemini Enterprise agent demand rather than a permanent commitment.
The compute originated with infrastructure Musk built for his own AI lab, xAI, which has lagged competitors; leasing it generates revenue from underused capacity.
Who’s Affected
Google gains near-term capacity for Gemini Enterprise without building it directly. SpaceX gains recurring AI revenue that strengthens its IPO narrative. Nvidia is affected indirectly: its chips remain the unit of account for these multibillion-dollar capacity deals.
What’s Next
SpaceX is expected to price its IPO around June 11 and begin trading June 12. The Google deal doubles as visibility for Google’s AI products during a heavily watched listing; the contract’s “short-term” framing leaves open whether it renews past June 2029.
