Google Rents the AI Factory: SpaceX Turns GPU Capacity Into IPO-Ready Infrastructure Revenue

SpaceX disclosed a Google cloud service agreement covering approximately 110,000 Nvidia GPUs, CPUs, memory, and related components. Google is set to pay $920 million per month from October 2026 through June 2029, after a reduced-fee ramp period. The deal shows how scarce AI compute is being packaged as infrastructure revenue and valuation support as SpaceX advances its IPO process.