SpaceX’s AI Revenue Leans Heavily on Anthropic

In Q3 2026, SpaceX’s AI division—now called Super Intelligence—reported that Anthropic PBC accounted for about 34.5 % of quarterly revenue. The filing listed the client as “Customer B,” but a source confirmed it is Anthropic. The contracts let Anthropic spend up to $120.5 billion on SpaceX computing power through 2029, roughly $3.1 billion per month starting in December. After early 2027, Anthropic may cancel the deal with 90 days’ notice.

The Next Web (TNW)

SpaceX has traditionally earned most of its income from NASA and the U.S. Department of Defense. Over the past year the firm has repurposed data-center capacity into a “neocloud” business, leasing AI compute to customers such as Anthropic and Google. The AI vertical turned profitable for the first time and is central to Elon Musk’s goal of $100 billion in annual run-rate revenue by the end of 2026.

BloombergAnthropic accounts for over a third of SpaceX revenue in Q3, Bloomberg reports The Next Web (TNW)BloombergCTechJapan TimesBBC News

• Revenue share: 34.5 % of Q3 2026 revenue came from Anthropic, surpassing the U.S. federal government.

Bloomberg

• Contract size: Anthropic’s agreements total $120.5 billion through 2029, about $3.1 billion per month beginning in December.

Bloomberg

• Cancellation rights: Anthropic can terminate the contracts with 90 days’ notice after early 2027.

Bloomberg

• Other clients: Google pays roughly $920 million per month for compute at SpaceX’s Memphis, Tennessee data centers.

Bloomberg

• Profitability: The AI vertical posted a profit in Q3 2026, contributing to SpaceX’s overall revenue growth of 161 % year-over-year.

Bloomberg

SpaceX’s regulatory filing disclosed the revenue concentration and the contractual terms with Anthropic, noting the “Customer B” designation. Anthropic’s IPO prospectus reiterated that computing and infrastructure costs will remain its largest operating expense for the foreseeable future. A SpaceX spokesperson did not respond to requests for comment, and an Anthropic representative declined to comment on the specific revenue figures.

The Next Web (TNW)

More than a third of SpaceX’s revenue now depends on a single, contract-bound client, creating exposure to abrupt loss if Anthropic exercises its cancellation rights. Musk has warned that debt markets have largely withdrawn financing for companies lacking revenue streams independent of AI data centers, positioning SpaceX’s launch and Starlink businesses as a hedge. The reliance on Anthropic also underscores the industry shift toward massive, long-term compute contracts that tie AI developers to a limited set of cloud providers, raising questions about financial resilience as market conditions evolve.

The Next Web (TNW)

• “Debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers,” — Elon Musk

Bloomberg

• “We’re at a more critical point in this AI narrative that investors are going to want to see, in the next six to 18 months, that the spending that is happening right now is actually increasing revenue enough to justify it,” — Anthony Saglimbene, chief market strategist at Ameriprise

Bloomberg