SPCX Stock Adds 3%: Anthropic's IPO Prospectus Reportedly Shows $84.5B To SpaceX In Compute Agreements

Anthropic’s IPO prospectus shows a massive $518 billion infrastructure expansion over the next decade, anchored by high-value compute agreements with key tech partners, including SpaceX.

• Anthropic anticipates spending a minimum of $518 billion across a 10-year period to build out its artificial intelligence computing infrastructure. 
• The company revealed compute agreements with SpaceX valued at up to $84.5 billion. 
• Anthropic’s long-term plan involves six major technology partners, including tech giants Google, Amazon, and Microsoft, alongside SpaceX. 

Artificial intelligence developer Anthropic has signed compute contracts with SpaceX worth up to $84.5 billion, nearly double the initial agreement, and expects to spend at least $518 billion in total over the next decade to build out its infrastructure capacity, according to details disclosed in a confidential initial public offering (IPO) prospectus viewed by Reuters. 

The decade-long investment strategy highlights the soaring cost and computational scale required to power next-generation artificial intelligence models.

SPCX stock rose about 3% on Tuesday.

SpaceX Agreements Disclose Higher Spending

The prospectus also reveals an expanded agreement with SpaceX. Anthropic has entered into compute contracts with SpaceX worth up to $84.5 billion through 2029 to access Nvidia-based hardware infrastructure.

The newly disclosed figure significantly exceeds earlier disclosures. Previous filings from SpaceX's own IPO paperwork indicated an agreement worth nearly $45 billion, based on payments of $1.25 billion per month over three years. Unlike many of Anthropic’s cloud platform commitments, the SpaceX agreements generally permit termination with a 90-day written notice.

Anthropic joins a growing list of AI developers—including Google and Reflection AI—that lease high-performance computing capacity directly from SpaceX to meet escalating model training requirements.

Non-Cancelable Contracts Lock In Capital Spend

According to the prospectus, approximately 80% of the $518 billion total spending requirement consists of non-cancelable arrangements or minimum commitments that must be paid regardless of how much computing power is actually utilized.

Under these long-term agreements spanning seven to 10 years, Anthropic has committed to spending at least $111.1 billion with Alphabet’s Google, $110 billion with Amazon, and $31.4 billion with Microsoft. 

The agreement with Microsoft is non-cancelable through May 2033, barring an uncured material breach. Additionally, the company holds roughly $161.2 billion in Broadcom-related equipment lease commitments that carry non-cancelable clauses.

SPCX Stock: Retail View 

Retail sentiment on Stocktwits was 'bullish' with 'high' message volumes. 

SPCX stock has lost about 8% since its June IPO. 

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