Bloomberg reports Anthropic contributed about 34.5% of SpaceX’s third-quarter revenue as its largest single customer
According to Bloomberg, people familiar with the matter said that Customer B, which accounted for about 34.5% of SpaceX’s revenue in the third quarter in a filing submitted by SpaceX last week, is Anthropic, and that Anthropic has surpassed the U.S. federal government to become SpaceX’s largest single customer. The revenue came from a compute agreement Anthropic signed with SpaceX earlier this year, using computing resources at its data center in Memphis, Tennessee, in the United States.
According to Anthropic’s IPO filing, it agreed to spend up to $120.5 billion on SpaceX over the contract term through 2029, equivalent to about $3.1 billion per month starting this December, but it may cancel the relevant contracts by giving 90 days’ prior notice after January and March 2027. Anthropic declined to comment, and SpaceX did not respond to a request for comment.
Original sources:
Title: SpaceX’s Largest, $3 Billion-a-Month ‘Customer B’ Is Anthropic Publisher: Bloomberg Publication date: 2026-10-29 URL: https://www.bloomberg.com/news/articles/2026-10-29/spacex-s-largest-revenue-source-is-a-finite-deal-with-anthropic Source nature: media report Verification: The title and summary were actually read in this review, verification date 2026-10-29 Supporting content: People familiar with the matter said Anthropic is SpaceX’s largest single customer, accounting for about 34.5% of third-quarter revenue; the filing referred to Customer B; it surpassed the U.S. federal government; the revenue came from a compute agreement for the Memphis data center
Title: Anthropic discloses up to $120.5 billion in SpaceX compute spending through 2029 Publisher: Blockspace Publication date: 2026-10-26 URL: https://blockspace.media/insight/anthropic-discloses-spacex-compute-spending/ Source nature: media report (citing S-1) Verification: The full text was actually read in this review, verification date 2026-10-29 Supporting content: Anthropic’s S-1 disclosed that it agreed to spend up to $120.5 billion on SpaceXAI through 2029; about $3.1 billion per month after full capacity delivery (expected this December); cancellable with 90 days’ notice after January and March 2027
Title: Anthropic says raised $141.1B of capital as of June 30 Publisher: TipRanks / The Fly Publication date: 2026-10-26 URL: https://www.tipranks.com/news/the-fly/anthropic-says-raised-141-1b-of-capital-as-of-june-30-thefly-news Source nature: media report (citing the original S-1 text) Verification: The full text was actually read in this review, verification date 2026-10-29 Supporting content: The original S-1 text said that multiple agreements had been signed with SpaceX.AI, agreeing to spend up to $120.5 billion through 2029, about $3.1 billion per month after full capacity, and cancellable with 90 days’ notice after the end of the initial non-cancellable period
ABAB AI Insight
Anthropic is the AI lab that develops the Claude models. SpaceX operates the Colossus data center in Memphis, Tennessee, through its AI subsidiary (formerly xAI), providing NVIDIA GPU computing power. Bloomberg, citing people familiar with the matter, said that Anthropic, as Customer B in the filing, accounted for about 34.5% of SpaceX’s revenue in the third quarter, making it its largest single customer and surpassing the U.S. federal government. The revenue came from a compute agreement signed earlier this year.
On the capital side, Anthropic’s S-1 filing disclosed that its agreement with SpaceXAI allows spending of up to $120.5 billion through 2029, or about $3.1 billion per month after full capacity is delivered (expected to be reached this December). The agreement has an initial non-cancellable period (through January and March 2027, respectively), after which either party may cancel by giving 90 days’ written notice. This differs from Anthropic’s non-cancellable agreements with Google, Amazon and others. SpaceX refers to its AI business as Super Intelligence and generates revenue by leasing computing power.
A comparable case is AI labs’ reliance on large-scale GPU computing power: Anthropic has also signed large agreements with Google, Broadcom, Amazon and others, while SpaceX leases out part of its self-built data center capacity. Earlier agreements were smaller in scale (about $1.25 billion per month), and later expanded to about $3.1 billion per month. The cancellation clauses mean the spending ceiling is not a rigid commitment.
What this disclosure changes is the customer concentration of SpaceX’s revenue: a single AI lab customer contributes more than one-third of quarterly revenue, while the agreement retains a mid-term cancellation right. For SpaceX, AI compute leasing has become an important source of revenue; for Anthropic, it is one of the paths to obtaining large-scale NVIDIA computing power, but it entails dependence on a single supplier. The key indicators to watch are changes in this customer’s share of SpaceX’s revenue in subsequent quarters, and whether Anthropic exercises the cancellation right after 2027.
ABAB News · Cognitive Law
A single customer contributing about 34.5% of quarterly revenue concentrates SpaceX’s revenue in compute leasing to one AI lab.
The spending cap of up to $120.5 billion comes with a 90-day cancellation right after 2027 and is not an irrevocable long-term lock-in.
Leasing from the Memphis data center turns self-built compute infrastructure into a measurable revenue source.