SpaceX filings and people familiar with the matter show Anthropic is the
company’s largest single customer, accounting for roughly 34.5% of revenue in
the quarter ended Q3 2026 from purchases of compute for its AI unit. Anthropic
signed a compute contract with SpaceX with total potential spend of up to $120.5
billion through 2029 and is expected to average about $3.1 billion per month
from December 2026. Anthropic may terminate portions of the contract with 90
days’ notice at two points after January and March 2027. The filing highlights
revenue concentration risk from Anthropic; the report also notes the AI
compute-leasing sector faces tighter financing. Another Q3 customer, a
government agency, contributed 16.6% of revenue; the US federal government had
previously been SpaceX’s largest single customer.
