Buried in SpaceX's IPO filing, where the company proposed listing under the ticker SPCX, is a disclosure that helps explain one of the biggest questions surrounding Elon Musk's latest obsession: who's paying for all that AI infrastructure? The answer, at least in part, is Anthropic.

SpaceX revealed that it entered into cloud services agreements with Anthropic in May 2026, under which the AI startup will pay $1.25 billion per month for access to compute capacity across the company’s Colossus and Colossus II AI data center campuses. The agreements run through May 2029, with capacity ramping during the first two months.

At a full run rate, that’s roughly $15 billion in annual revenue and as much as $45 billion over three years, enough to cover the roughly $13 billion SpaceX has directed toward AI infrastructure and data centers more than three times over.

One Customer, A $45 Billion Commitment

The scale of the agreement becomes more striking when viewed against SpaceX’s existing AI business.

The company’s IPO filing showed its AI segment generated $818 million of revenue in ...