Google agrees to rent computing capacity from SpaceX for €920 million per month over 32 months, ahead of SpaceX's planned IPO.

Google will pay €920 million per month to SpaceX for access to computing resources, with a utilization window between October 2026 and June 2029. Google will use 110,000 Nvidia GPUs, processors and memory components deployed in SpaceX's data centres.

SpaceX merged with xAI in February 2026 and now operates multiple massive data centres in the US called 'Colossus', with a total computing capacity of over 2 GW. The combined entity SpaceX/AI has an estimated value of $1.25 trillion.

The deal was announced days before SpaceX's planned IPO at a valuation of over $1.75 trillion. SpaceX described the arrangement in its IPO filing as part of 'compute service agreements with third parties.' Google is aiming to scale capacity to meet increased customer demand for AI platforms and agents, especially among large businesses.