SpaceX IPO Filing Reveals Anthropic Is Paying $15 Billion a Year to Access Its Data Centers

Anthropic has reached an agreement with SpaceX to pay $1.25 billion monthly through May 2029 for access to cloud computing resources, as disclosed in a recent regulatory filing. This substantial commitment translates to approximately $15 billion annually, highlighting the increasing importance of computer power in the competition to advance artificial intelligence technologies.

Earlier in the month, Anthropic and SpaceX unveiled a partnership that permits the Claude AI developer to utilize GPUs at Colossus and Colossus II, two data centers located between Tennessee and Mississippi, boasting over one gigawatt of computational capability. SpaceX expedited the construction of these facilities initially intended for its xAI division, which is responsible for developing the Grok AI chatbot; however, Musk noted that the company ultimately did not require the entirety of the available computing resources. Previously, the terms of this agreement had not been revealed.

Per SpaceX's S-1 filing, Anthropic is benefitting from a temporarily reduced fee for May and June before the regular $1.25 billion monthly rate begins.

This eye-catching figure reflects Anthropic's strong demand for computing capabilities essential to support products such as its increasingly popular AI coding tools. According to projections from the Wall Street Journal, Anthropic's revenue for the second quarter of 2026 is anticipated to exceed $10 billion.

An Anthropic spokesperson has confirmed these details to WIRED. SpaceX has yet to respond to a request for comment from WIRED.

SpaceX's Business Strategy and Future Plans

SpaceX anticipates entering into additional contracts similar to this one pertaining to its computing infrastructure while also planning to utilize its data centers for its own operations. The filing states, "We have sufficient capacity to provide compute for our own AI models, including support of our training and inference demands, and to satisfy the obligations under these agreements." The company believes that its dual monetization strategy creates multiple avenues for generating returns on invested capital.

The S-1 filing provides insight into SpaceX's prospective business opportunities and associated risks as it approaches an initial public offering (IPO). The company aims for a historic IPO, seeking to raise around $75 billion, leading to a valuation of $1.75 trillion. SpaceX submitted its initial paperwork confidentially to the US Securities and Exchange Commission on April 1, allowing for modifications based on regulatory feedback. The version released on Wednesday is a finalized iteration, though further changes could occur prior to its anticipated debut on the Nasdaq stock exchange under the ticker SPCX, potentially as early as June 12.

In the first quarter of this year, SpaceX, including its segments X and xAI, reported nearly $4.7 billion in revenue alongside a loss of almost $4.3 billion. The previous year saw the company generate $18.7 billion in revenue while incurring a loss of $4.9 billion due to significant investments in AI technologies and the development of a larger rocket, as cited in the filing.

Governance Concerns and Activist Opposition

The S-1 aims to provide potential investors with a comprehensive understanding of the company and the challenges it faces. A prevalent concern revolves around the concentration of power held by Musk and whether adequate safeguards are in place to oversee the cofounder and CEO's authority.

Excerpts from the IPO filing shared with Reuters prior to publication indicated that Musk alone has the authority to terminate his position. The documents also disclose that he will retain control over the company’s board. Furthermore, Musk and his associates will possess disproportionate voting power, allowing them to counter attempts by activist shareholders that may seek to disrupt company operations. SpaceX is also preparing to utilize provisions of Texas law to protect itself against hostile takeovers and the removal of executives or board members.

In recent weeks, various advocacy groups—including a prominent US teachers' union, AI safety researchers, and local environmental organizations—have urged prospective investors to exercise caution before acquiring shares in SpaceX. Activists have communicated both with investors and SpaceX, calling for reflections on the implications of empowering Musk further. Leaders of public employee retirement funds in California, New York, and New York City have jointly labeled SpaceX's governance proposal as "novel and extreme," considering it "the most management-favorable governance structure ever brought to the U.S. public markets at this scale."

The pension fund executives acknowledged SpaceX's exceptional technical and commercial accomplishments, recognizing the company's contributions to U.S. national security and commercial space endeavors. However, they emphasized the necessity for governance practices to adhere to fundamental protections that long-term institutional capital relies on, rather than diminishing those standards.

Concerns have also been raised about SpaceX's plans to allow individual investors to purchase a significant portion, approximately 30 percent, of shares initially offered, raising alarms about the potential transition of the company into a volatile meme stock environment. Yet, barring substantial obstacles related to the IPO process, SpaceX is poised to benefit from new stock market regulations that will compel specific popular investment funds to acquire and retain its shares, which could serve to enhance and stabilize stock prices.

Additional Disclosures and Risk Factors

While leaks from confidential S-1 documents are infrequent, SpaceX has encountered multiple leaks beyond governance-related details. Reporting by The Information disclosed that sales from Starlink, SpaceX's satellite internet service, totaled around $11.4 billion in the previous year. The report also pointed out SpaceX's escalating debt, reaching up to $23 billion last year. Furthermore, Reuters recently indicated that SpaceX has allocated over $15 billion toward the development of Starship, a larger rocket model compared to its successful Falcon 9. The next attempt to validate Starship is planned for Thursday.

Additional leaks have indicated that xAI may face bans in certain countries due to its chatbot's generation of inappropriate content, alongside intentions to invest significantly in GPU manufacturing, and uncertainty surrounding the viability of orbiting data centers in space as a business proposition.