Anthropic agrees to spend up to $120.5 billion on compute from SpaceX

Anthropic has struck a deal with SpaceX that makes most corporate supply agreements look like a coffee tab. The AI company agreed to spend up to $120.5 billion on compute capacity from SpaceX, tapping into the Colossus data center network in Memphis, Tennessee to feed its growing appetite for AI training and inference. The agreement, announced on May 6, 2026, grants Anthropic access to more than 220,000 Nvidia GPUs and over 300 megawatts of power, initially through SpaceX’s Colossus 1 facility, with Colossus 2 coming online later. What the numbers actually look like Anthropic commits $1.25 billion per month to SpaceX under the terms of the deal, which runs through May 2029. That works out to approximately $15 billion per year, a figure that rivals the annual revenue of entire mid-sized technology companies. The $120.5 billion headline figure represents the upper bound of total potential spending across all SpaceX-related contracts, according to the source material. Anthropic’s own draft IPO materials put the total projected expenditure at up to $84.5 billion through 2029, suggesting the full ceiling accounts for additional optionality beyond the base contract. The agreement include...