SpaceX Receives Another $920 Million Monthly Rental Agreement from Google, Mitigates xAI Losses through Computational Power Leasing Ahead of IPO

According to Recon AI Beat monitoring, SpaceX's Form S-1 filing with the Securities and Exchange Commission (SEC) submitted on June 5th revealed that the company had entered into a 33-month cloud services agreement with Google on the same day.

Per the agreement, starting from October 2026, Google will monthly pay $920 million to lease approximately 110,000 NVIDIA GPU computing power cluster. This comes after last month's lease agreement with Anthropic, where SpaceX once again rented out a large portion of its xAI division's computing power to a competitor.

The disclosure documents indicate that either party can terminate the agreement with just a 90-day notice starting from December 31, 2026. The 90-day exit clause aligns with past Anthropic contracts and stems from SpaceX's firm demand to retain the ability to reclaim computing power dominance at any time, citing strategic concerns over potential Grok training shortages.

Beyond short-term flexibility, the contract also imposes stringent delivery penalties on SpaceX. If the full 110,000 GPUs cannot be delivered by September 30, 2026, Google has the right to either terminate the agreement outright or proportionally deduct the monthly rent after a mere 1-month grace period. Additionally, Google retains ownership of all data and AI models to segregate data and guard against parameter siphoning.

Consecutively securing high-value computing power contracts reflects the performance pressure SpaceX faces on the eve of its upcoming initial public offering (IPO) next week. Due to continuous losses in its xAI division, SpaceX's overall first-quarter performance has been dragged down. The company is seeking to generate cash flow by leasing out computing power to Google and Anthropic in a bid to demonstrate the growth potential of its AI business to Wall Street.