Deal overview
Space Exploration Technologies Corp. signed a cloud services agreement with Google LLC that allocates substantial computing capacity to Google, the companies disclosed in a filing with the Securities and Exchange Commission. The arrangement specifies the provision of roughly 110,000 NVIDIA GPUs as well as accompanying CPUs, memory, and related components.
Payment schedule and ramp
Google has agreed to make monthly payments to SpaceX of $920 million beginning in October 2026 and continuing through June 2029. The filing states that the capacity under the arrangement will be increased gradually through September at a reduced fee prior to the October start of the full monthly payments.
Delivery and termination mechanics
The agreement includes explicit remedies tied to delivery. If SpaceX does not make the committed number of GPUs available by September 30, 2026, Google may terminate the contract immediately after a one-month grace period. In that scenario, Google would accept the number of GPUs actually provided and the monthly fee would be reduced proportionally to reflect the lower delivered capacity.
Additionally, after December 31, 2026, either party may terminate the agreement with 90 days' notice, per the filing. Those provisions set out clear windows for both mandatory performance and subsequent contractual flexibility.
Data and intellectual property
The filing also spells out ownership of content and related rights: Google will retain ownership of, and intellectual property rights in, its content, its AI models, and related data generated or used under the arrangement.
What the filing discloses - and what it does not
The SEC filing provides the core commercial and operational terms of the cloud services agreement, including the monthly fee, the scale of GPU capacity, ramp details, and termination clauses. It does not, in the language presented, describe technical deployment details, exact timing of intermediate capacity milestones beyond the ramp-through-September note, or operational arrangements for how the hardware will be accessed.
Takeaway
The contract ties a very large, predictable revenue stream to SpaceX for the defined period, while preserving Google ownership of its models and data and including specified safeguards should delivery fall short of the committed GPU count. The filing frames the key economic terms, delivery deadlines, and termination rights without additional operational detail.