SpaceX already launches rockets. It already operates one of the world's largest satellite internet businesses, Starlink. Now Elon Musk may be turning it into something else entirely: an AI infrastructure landlord.

Anthropic's reported deal to access SpaceX/xAI's Colossus 1 supercomputer in Memphis suggests Musk may have stumbled onto a new business model hiding inside his AI ambitions, renting massive Nvidia Corp (NASDAQ:NVDA) GPU capacity to frontier AI companies desperate for compute.

And the scale is difficult to ignore.

The Colossus cluster reportedly houses roughly 220,000 Nvidia GPUs and more than 300 megawatts of power capacity, putting it closer to hyperscaler-scale infrastructure than a traditional corporate AI lab.

SpaceX Is Already More Than A Rocket Company

For years, investors viewed launches as the center of the SpaceX story. But Starlink quietly changed the economics of the business.

The satellite ...