The AI startup will begin making payments of $3.1 billion monthly for computing resources from SpaceX in December as part of a new multiyear contract. The agreement will total $120.5 billion through 2029, averaging about $37 billion in annual expenditures for the compute power.
The deal is larger than Anthropic’s existing long-term agreements with Google and Amazon, and the monthly payments represent approximately 80% of the company’s current revenue. Anthropic cautioned that the higher cost per unit for short-term compute will compress its operating margins, while analyst Brian Sozzi noted that a disappointing first public earnings report from the company could trigger a decline in SpaceX shares.