SpaceX has secured a new AI compute hosting contract valued at approximately $1.11 billion per month, effective December 1, 2026. CFO Bret Johnsen announced the deal at the Goldman Sachs Communacopia and Technology Conference, noting that the company remains on track to reach $100 billion in annualized recurring revenue by the end of 2026.
The new agreement is expected to contribute $13 billion to the company's annualized recurring revenue. This adds to existing compute contracts, including an agreement with Anthropic worth $1.25 billion per month and a deal with Alphabet starting in October 2026, which will generate $920 million monthly. Combined, these three contracts exceed $3.2 billion in monthly compute revenue.
In the second quarter of 2026, SpaceX reported total revenue of $7.8 billion, supported by both Starlink operations and its expanding data center business. The company aims to reach over 2 gigawatts of terrestrial AI compute capacity by the end of 2026, with plans to scale that figure to between 5 and 10 gigawatts throughout 2027.
SpaceX utilizes short-term contracts, typically lasting six months, to maintain flexibility. This strategy allows the company to reallocate capacity for internal projects, such as xAI’s Grok models and the AI code editor Cursor, while also enabling the firm to adjust pricing based on shifting market conditions.
