SpaceX Leases Colossus 1 to Anthropic

SpaceX is leasing Colossus 1 to Anthropic, pulling them in as a major customer despite Musk having called Anthropic 'evil' just months ago.

• Colossus 1 houses roughly 220,000 Nvidia GPUs.
• According to New Street Research's Antoine Chkaiban, this deal could generate $3B~$4B in annual revenue and $2.5B+ in cash profit.
• Grok demand alone couldn't fill this cluster, while Anthropic is short on compute, making supply and demand line up.

Since the facility is already built, most of the fixed costs are sunk, and the real marginal cost is assessed to be at the level of electricity and minimal operating expenses. This structure also serves as a means for SpaceX to look like a hyperscaler rather than an AI model company.

According to the article, SpaceX is targeting a $1.75T~$2T valuation via a confidential S-1, and is aiming to fold xAI into SpaceX to add the AI business narrative as well. There's also a calculation underlying this that SpaceX could capture the 30%+ cloud margins that AWS, Azure, and Google Cloud have been taking.

However, SpaceX lacks the globally distributed operational and legal infrastructure that AWS has, so it's unlikely to immediately replace existing clouds. It's also unclear whether the condition mentioned on X—that compute would be pulled back if it's used to harm humanity—is actually included in the contract, and Anthropic will likely prepare fallback and efficiency plans to avoid depending on a single supplier.