Anthropic Discloses Up to $120.5 Billion in SpaceX Compute Spending Through 2029

Anthropic could pay SpaceX (SPCX-US) as much as $120.5 billion under compute agreements running through 2029, according to its IPO prospectus filed Monday. The filing disclosed that Anthropic will spend roughly $3.1 billion per month starting December 2026 once all compute capacity is delivered, with different fee arrangements during the ramp-up. Anthropic has contracted SpaceXAI for compute using Nvidia (NVDA-US) GPUs. Either party can cancel with 90 days' notice. The total and contract length had not been previously disclosed; reports had indicated a deal worth more than $1 billion per month. SpaceX CFO Bret Johnsen, speaking on the company's third-quarter earnings call, said demand for compute is "quite remarkable" and that new deployments pay back in under a year at current pricing, which sits just above the upper end of a $30–$50 per-watt range. He has said SpaceX expects annual recurring revenue of $100 billion by year-end. CEO Elon Musk projects ARR of $500 billion to $1 trillion by the end of 2027. SpaceX has confirmed a new $40 billion lease-financing deal with Apollo Global Management to acquire Nvidia chips.