SpaceX signs $920 million per month deal with Google for 110,000 Nvidia AI chips ahead of IPO

SpaceX signed a $920 million per month contract with Google, according to an SEC filing. The deal runs from October 2026 through June 2029, potentially netting SpaceX around $30 billion total. Google gets access to about 110,000 Nvidia AI chips to meet customer demand. 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.

SpaceX is planning an IPO next week at a potential valuation above $1.7 trillion. Google holds about five percent of SpaceX, giving it a direct stake in a strong debut. The deal also doubles as advertising for Google's AI products, since SpaceX's IPO is drawing massive attention.

SpaceX previously locked in a $1.25 billion monthly deal with Anthropic. Both agreements position SpaceX as an AI infrastructure provider. Musk originally built the capacity for his own AI lab, xAI, which has lagged behind competitors. Leasing it out makes financial sense.