SpaceX Reveals Up to $40 Billion Anthropic Deal—With a Catch

SpaceX’s long-awaited public offering paperwork revealed fresh details about its unlikely partnership with Anthropic that are representative of the overall IPO story for Elon Musk’s company: Enormous potential, with risks everywhere.

The company said Anthropic agreed to pay SpaceX $1.25 billion per month to rent capacity from both of its supersized data centers in Memphis, called Colossus and Colossus II. That deal, which would be worth about $40 billion through May 2029, would be one of the largest AI infrastructure deals on record, and help juice SpaceX’s suddenly slowing revenue growth.