Google and SpaceX have entered into a massive cloud infrastructure lease agreement, a partnership revealed by an official regulatory document filed with the Securities and Exchange Commission (SEC). The filing shows that Google will buy specialized computing power from the Elon Musk-owned firm for $920 million per month. Running from October 2026 through June 2029, this large contract clearly guarantees billions of dollars in steady revenue for SpaceX. The details were made public just as SpaceX prepares for its highly anticipated initial public offering (IPO) on the stock market.
Under the terms of the deal, Google is renting a huge hardware setup made up of about 110,000 NVIDIA graphics processing units (GPUs), along with central processors (CPUs), high-capacity memory, and fast networking parts. SpaceX will gradually turn these systems on for Google during a warm-up phase through September 2026 at a reduced fee. Google has protected its investment with strict fallback rules, meaning if SpaceX can not deliver the full promised volume of working chips by September 30, 2026, Google can cancel the contract entirely after a short 30-day grace period, or choose to accept fewer chips while taking a matching cut to its monthly bill.
Once the initial setup phase wraps up on December 31, 2026, either corporation can completely withdraw from the multi-year agreement by providing a 90-day written notice. Crucially, the legal framework ensures that Google keeps absolute ownership and intellectual property rights over all data, proprietary information, and AI models running through the system. This strict separation stops SpaceX from using Google’s sensitive training workloads to improve its own native AI systems.
For Google, locking down these 110,000 chips is a necessary move to secure the rare hardware required to train its next-generation large language models. The contract helps the search giant diversify its technology supply chain while supporting ‘Project Suncatcher’, its internal plan to use satellite networks for off-planet AI processing.
At the same time, for SpaceX, the timing of this deal gives a massive boost to its upcoming stock market debut on the Nasdaq. The company aims to raise $75 billion by offering 555,555,555 shares at an expected price of $135 each. While recent documents show SpaceX brought in $18.67 billion in total revenue for 2025, the company still recorded a net loss of $4.94 billion that year.
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Ashutosh is a Senior Writer at The Tech Portal, largely reporting on new tech, and intersection of technology and business. Ashutosh’s career spans across nearly a decade of technology writing across multiple platforms and languages.
