Anthropic has become SpaceX’s single largest customer, accounting for more than a third of the rocket and AI company’s third-quarter revenue and overtaking the US government, Bloomberg News reported on Thursday.
The AI developer was identified as “Customer B” in SpaceX’s quarterly filing, which disclosed that one unnamed client contributed 34.5% of revenue in the quarter. Bloomberg cited a person familiar with the matter in naming Anthropic as that customer.
The revelation underscores how quickly SpaceX’s artificial-intelligence computing business has grown — and how dependent the Elon Musk-led company has become on a single AI customer whose contracts carry an early exit option.
A third of quarterly revenue
SpaceX disclosed in a regulatory filing last week that roughly 34.5% of its third-quarter revenue came from a single client paying its AI division, now called Super Intelligence, which supplies computing power. The filing identified the buyer only as “Customer B.”
Anthropic’s payments have now surpassed those from the US federal government, which had long been SpaceX’s largest single customer through its launch and satellite contracts.
The revenue stems from a compute agreement Anthropic signed with SpaceX earlier this year, using computing resources at SpaceX’s data centers in Memphis, Tennessee.
A $120.5 billion ceiling
Anthropic’s initial public offering filing, disclosed Monday, shows the company agreed to spend up to $120.5 billion on computing capacity powered by Nvidia GPUs under contracts with SpaceX running through 2029.
That would translate to roughly $3.1 billion per month once all contracted capacity is delivered, which Anthropic expects in December 2026.
The $120.5 billion figure is a maximum, not a guaranteed total. Anthropic’s earlier confidential prospectus, reported by Reuters in September, had put the figure at $84.5 billion before subsequent amendments raised it.
A finite commitment
What sets the SpaceX deal apart from Anthropic’s other major compute contracts is its cancellation structure. The agreements have initial non-cancelable periods ending in January and March 2027, after which either Anthropic or SpaceX can terminate with 90 days’ written notice.
By contrast, Anthropic’s compute agreements with Amazon, Google and Microsoft carry minimum commitments, according to StockTitan’s review of the S-1.
That means the customer now driving more than a third of SpaceX’s revenue could walk away on three months’ notice starting in early 2027, leaving SpaceX heavily exposed to a single client.
Rivals doing business
The arrangement pairs two direct competitors in the AI race. Anthropic’s Claude models compete with Grok, the chatbot developed by xAI, which SpaceX absorbed into its broader AI operations under the Super Intelligence umbrella.
The relationship began with Anthropic taking all of Colossus 1, SpaceX’s Memphis data center with more than 300 megawatts of capacity and over 220,000 Nvidia GPUs, before extending to Colossus II.
SpaceX first disclosed the deal publicly in May, when it was valued at $1.25 billion a month through May 2029, with a reduced fee during a capacity ramp in May and June.
What it means for SpaceX
At the projected $3.1 billion monthly run rate, Anthropic alone would bring SpaceX roughly $9.3 billion per quarter. In the third quarter, SpaceX reported $14.575 billion in consolidated revenue, with its Super Intelligence segment contributing $7.56 billion, up 195% sequentially as cloud-service agreements became active.
For Anthropic, the $3.1 billion monthly bill would be more than double the $8.945 billion it spent on all compute and infrastructure in the first half of 2026, against revenue of $16.286 billion over that period.
Neither company has publicly confirmed the relationship. Anthropic declined to comment, and SpaceX did not respond to a request for comment, according to Bloomberg.
The disclosure lands at a sensitive moment for both companies: Anthropic is preparing for a public listing, while SpaceX’s growing reliance on AI compute revenue marks a striking shift for a firm historically defined by rockets and satellites. Whether the Anthropic relationship proves a durable revenue engine or a short-lived boom will become clearer once the cancellation windows open in early 2027.
