Anthropic to Pay xAI $1.25B Monthly for Compute, SpaceX IPO Filing Shows

TLDR

• Anthropic agreed to pay xAI $1.25B per month for AI compute capacity.
• The deal gives Anthropic access to 300 megawatts from Colossus 1.
• The contract runs through May 2029 and could exceed $40B in revenue.
• SpaceX disclosed the Anthropic compute deal in its S-1 IPO filing.
• Either Anthropic or xAI can terminate the contract with 90 days’ notice.

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Anthropic has agreed to pay xAI $1.25 billion per month for large-scale artificial intelligence compute capacity, according to details disclosed in SpaceX’s S-1 filing with the U.S. Securities and Exchange Commission.

The agreement gives Anthropic access to 300 megawatts of compute capacity from the Colossus 1 data center near Memphis, Tennessee. The facility was built for xAI’s infrastructure needs and is expected to provide Anthropic with access to roughly 220,000 GPUs.

The contract runs through May 2029 and could generate more than $40 billion in total revenue for the Elon Musk-linked company if it remains in place for the full term. The filing said Anthropic will receive a discounted rate during the first two months while xAI completes its capacity ramp-up.

Compute Deal Disclosed in SpaceX Filing

The transaction was revealed in SpaceX’s IPO prospectus, which described the agreement as a way to monetize unused compute capacity. The filing said the company expects to enter similar service contracts in the future.

The contract includes a clause allowing either side to terminate the arrangement with 90 days’ notice. That provision gives both companies flexibility as AI demand, model training needs and infrastructure availability change.

Anthropic’s use of xAI-linked infrastructure places two major AI competitors into a commercial relationship. Anthropic operates Claude, one of the main AI assistants competing with OpenAI’s ChatGPT and xAI’s Grok.

The agreement also shows how demand for AI compute continues to shape business decisions among leading technology companies. Large language models require access to advanced chips, data centers, power supply and network systems. Securing that infrastructure has become one of the main costs in the AI sector.

Colossus Capacity Adds Revenue Channel

The Colossus 1 data center has become central to xAI’s infrastructure strategy. By leasing a large portion of available capacity to Anthropic, xAI gains a revenue stream from compute resources that may not be fully used by its own products.

The model has similarities to what some market participants call a neocloud strategy. Under this structure, a company can build AI infrastructure for internal use while also selling unused capacity to outside customers.

SpaceX’s filing described the approach as a dual monetization strategy. The company said it gives more than one path to earn returns from capital spent on infrastructure.

The disclosure also comes as usage of Grok has reportedly softened in recent months, leaving more server capacity available for outside contracts. The filing did not frame the Anthropic deal as a response to user trends, but it did state that the agreement helps monetize unused compute capacity.

IPO Plans Put AI Spending in Focus

The contract arrives as both Anthropic and SpaceX move closer to public market activity. Anthropic is reportedly preparing for an IPO targeted for October 2026, with market discussions placing a possible valuation near $1 trillion.

OpenAI is also expected to seek a public listing, with reports pointing to a possible September 2026 debut. The timing places Anthropic, OpenAI and Musk-linked companies in a public market race as investors assess AI revenue, infrastructure costs and long-term business models.

SpaceX has filed its S-1 registration statement and plans to list on Nasdaq under the ticker SPCX. The company is targeting a public debut as early as June 12, 2026.

The compute agreement may become an important part of investor analysis because it links SpaceX and xAI infrastructure to contracted AI revenue. Public investors are likely to review the durability of the Anthropic contract, termination terms, data center costs and future demand for similar services.

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