Google Signs $920M Monthly Compute Deal with SpaceX Ahead of IPO at $135 Per Share

Google has signed a cloud service agreement with SpaceX to provide artificial intelligence compute capacity ahead of its planned IPO. Under the deal, Google will pay SpaceX $920 million per month from October 2026 through June 2029 for access to approximately 110,000 Nvidia GPUs and related infrastructure. SpaceX is targeting an IPO price of $135 per share with a proposed valuation of $1.75 trillion to $1.8 trillion, aiming to raise about $75 billion.

Together with a similar arrangement with Anthropic, Google and Anthropic are expected to pay SpaceX approximately $2.17 billion per month, representing an annual revenue run rate of about $26 billion. SpaceX's IPO is already reportedly oversubscribed, with trading expected to begin on June 12.