SpaceX IPO Filing Exposes $15 Billion Annual Compute Deal with Anthropic

SpaceX has disclosed a substantial compute infrastructure agreement with AI firm Anthropic in its initial public offering filing with the US Securities and Exchange Commission. The documents reveal that Anthropic will pay $1.25 billion per month for access to GPU capacity at SpaceX’s Colossus and Colossus II data centres, located in Tennessee and Mississippi. The agreement, which totals approximately $15 billion annually, is scheduled to take full effect in May 2029.

The deal grants Anthropic use of facilities that collectively possess more than one gigawatt of computing power. SpaceX stated that it has sufficient capacity to meet its own artificial intelligence training and inference demands while fulfilling obligations to Anthropic. The company described the arrangement as part of a dual monetisation strategy designed to generate returns on invested capital. An Anthropic spokesperson confirmed the figures to WIRED, noting that a reduced fee applies for May and June before the full monthly rate commences.

The filing provides the first public glimpse into SpaceX’s financial performance, reporting nearly $4.7 billion in revenue and a loss of almost $4.3 billion for the first quarter of 2026. For the previous year, the company reported $18.7 billion in revenue but incurred a loss of $4.9 billion, attributed to heavy spending on AI technologies and rocket development. Leaks from confidential versions of the filing indicate that Starlink sales reached $11.4 billion last year, while debt has risen to $23 billion.

SpaceX is pursuing an IPO valuation of $1.75 trillion, aiming to raise approximately $75 billion. The company plans to list on the Nasdaq stock exchange under the ticker SPCX, potentially as early as June 12. The filing also highlights that SpaceX has spent over $15 billion on the development of the Starship rocket, with the latest launch attempt scheduled for Thursday.

Governance concerns feature prominently in the regulatory documents, which outline the extensive control retained by CEO Elon Musk. The filing notes that only Musk can fire himself, he maintains control of the board, and he holds outsized voting power. SpaceX intends to use Texas law provisions to fend off hostile takeovers. Public employee retirement funds from California, New York, and New York City have jointly criticised the structure as novel and extreme, warning that it lacks baseline protections for institutional capital.