Google Signs $920M Monthly Compute Deal with SpaceX Ahead of Historic IPO

Google has agreed to pay SpaceX $920 million per month from October 2026 through June 2029 for access to approximately 110,000 Nvidia GPUs and related infrastructure, according to a regulatory filing. The deal mirrors the $1.25 billion monthly agreement SpaceX struck with Anthropic in May, though Google’s arrangement covers roughly half the compute capacity.

Google described the contract as a short-term measure to address unexpectedly high demand for its Gemini Enterpriseagent platform, framing it as bridge capacity rather than a strategic infrastructure shift. SpaceX did not specify which data centre Google would access, with CEO Elon Musk having previously indicated the Colossus 2 facility would be reserved for xAI.

The announcement comes one week before SpaceX is expected to begin trading on the Nasdaq at a target valuation of approximately $1.75 trillion — potentially the largest IPO in history. Google is a longstanding SpaceX investor whose stake is expected to exceed $100 billion post-listing. The two companies are also reportedly in discussions about building orbital data centres as part of SpaceX’s longer-term ambitions.