❯ Anthropic discloses up to $84.5 billion in SpaceX compute payments through 2029, mostly cancellable on 90 days’ notice

Nearly double SpaceX's figureAccording to The Information, Anthropic’s prospectus shows agreements to pay SpaceX up to $84.5 billion through 2029 for its Nvidia-based compute. Most of the agreements can be cancelled with 90 days’ notice.

From $45 billion to $84.5 billionSpaceX’s IPO filing in May disclosed that Anthropic would pay about $1.25 billion a month through May 2029, roughly $45 billion in total; Elon Musk then said on X that the deal was really a 180-day lease, contradicting the filing. Anthropic’s new figure is nearly double, indicating the partnership has grown. Reuters also reported that Anthropic’s infrastructure commitments with six partners exceed $518 billion over 10 years, about 80% of them non-cancellable.

The cancellation clause cuts both waysThe 90-day exit gives Anthropic an escape hatch if demand slows, which matters for a company still losing money. But it also discounts the revenue stability of this big contract for SpaceX, making it harder for its investors to judge what the revenue is really worth. Compute lessors and model companies are forming a new kind of supply relationship: enormous in scale, but adjustable at short notice.

▪ SIGNALAI compute contracts keep getting bigger, but the number that matters is whether they can be cancelled: that decides whether the risk ends up with the model company or the compute provider.