SpaceX discussed leasing AI computing capacity to Microsoft

SpaceX’s AI unit discussed leasing computing capacity to Microsoft this summer. That makes the software giant the latest name to surface around the rocket company’s fast-growing side hustle.

That side hustle is renting out AI data center capacity.

No agreement between the two companies has been confirmed. Still, the talks show how quickly SpaceX has become a landlord to the biggest names in artificial intelligence.

From rockets to rented compute

SpaceX integrated xAI in early 2026. With it came the Colossus AI data centers in Memphis, which are now the backbone of a leasing operation.

SpaceX began leasing surplus capacity from Colossus in early 2026. The client list since then reads like a who’s who of the AI industry.

Anthropic will pay up to $1.25 billion per month through May 2029.

Google is set to pay $920 million per month starting in October 2026. That contract runs for roughly 32 months.

Reflection AI signed on at $150 million per month. Its deal runs from July 2026 through 2029.

An unnamed customer will add another $1.11 billion monthly beginning in December 2026.

Taken together, SpaceX’s compute lease revenue hit an annualized total of $41.1 billion, as reported in September 2026.

Where Microsoft fits in

The Microsoft conversations took place this summer. In August 2026, speculation circulated that Microsoft might seek to lease 3 GW of capacity to cover a shortfall.

That potential deal was valued at approximately $150 billion in those reports. It remains unverified, and no confirmed negotiations between the two firms have been reported beyond the discussions themselves.

SpaceX reported 1.4 GW of nameplate capacity online as of June 30, 2026, up from 1.0 GW in the first quarter.

A 3 GW request would be more than double what SpaceX had running at midyear.

SpaceX is aiming to exceed 2 GW by the end of 2026 and could possibly reach close to 10 GW by the end of 2027.

What this means

Compute leasing could rival SpaceX’s established revenue engines, including launch services and Starlink.

The contracts from Anthropic and Google underline how strong demand for AI infrastructure remains. Companies willing to pay over a billion dollars a month are signaling that they cannot get enough capacity elsewhere.

SpaceX’s growth depends on hitting aggressive buildout targets, from 1.4 GW at midyear to over 2 GW by year-end and possibly close to 10 GW by the end of 2027.

The concentration of revenue in a handful of large contracts is another factor. A few clients account for most of the monthly commitments, so the health of those relationships matters a great deal.

For now, the key items to monitor are whether SpaceX meets its year-end capacity goal and whether talks with Microsoft produce a signed deal. A confirmed agreement would add a fourth tech heavyweight to a tenant list that already includes Anthropic and Google.