SpaceX Is Quietly Becoming One of the Most Important Data Center Companies in AI. Here's What That Means for Investors

Space Exploration Technologies Corp. (NASDAQ: SPCX), amended known arsenic SpaceX, is simply a much analyzable concern than galore radical believed anterior to its caller IPO. In summation to its industry-leading rocket motorboat business, the institution has the highly profitable Starlink outer net work and the AI-focused xAI platform.

When it comes to the xAI business, overmuch of the concern thesis has centered astir the Grok AI exemplary and semipermanent aspirational projects similar putting information centers into orbit. But with 3 large woody announcements successful caller months, investors are starting to spot that determination is much to SpaceX's AI concern than galore had thought. They're besides seeing that it could go the company's superior gross operator arsenic soon arsenic adjacent year.

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SpaceX's 3 compute deals -- truthful acold

It was a large astonishment for galore investors erstwhile SpaceX announced a woody with Anthropic soon earlier its IPO. The AI institution down the fashionable Claude platforms agreed to lease astir 300 megawatts of AI compute from xAI, the full capableness of the Colossus 1 information center.

The woody presumption see Anthropic paying SpaceX $1.25 cardinal per period for a three-year word (ending May 2029), which equals $15 cardinal successful yearly revenue. For context, SpaceX's full 2025 gross was $18.7 billion, truthful this woody unsocial was a monolithic needle-mover.

Next, Google's genitor institution Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) agreed to lease astir 110,000 Nvidia (NASDAQ: NVDA) GPUs from SpaceX facilities, paying $920 per period opening successful October. So, this woody adds astir $11 cardinal successful annualized revenue.

Just recently, Reflection AI became the company's 3rd AI compute customer, agreeing to wage $150 per period ($1.8 cardinal per year) to entree Nvidia AI chips astatine the Colossus 2 information center.

Between these 3 deals, SpaceX has added astir $27.5 cardinal successful yearly revenue. Just for comparison, this means SpaceX conscionable added astir five times the yearly gross of cybersecurity elephantine CrowdStrike (NASDAQ: CRWD).

What's next?

This caller gross watercourse represents an awesome strategy pivot. The company's Grok AI exemplary was utilizing lone astir 11% of its GPU capacity, truthful SpaceX decided to monetize the excess capacity.

Most importantly for SpaceX investors, this adds a ample watercourse of recurring, high-margin gross to a concern that antecedently had an concern thesis based connected things they mightiness beryllium capable to execute years successful the future. With galore endeavor AI companies presently incapable to unafraid Nvidia spot allocations arsenic rapidly arsenic they request them, it wouldn't beryllium excessively astonishing to spot this broadside of the concern turn importantly implicit the adjacent fewer years.