Anthropic Reportedly Revealed as SpaceX's Mysterious Major Customer, Contributing Over One-Third of Revenue in Q3
According to media reports citing people familiar with the matter, Anthropic is the mysterious major customer labeled "Customer B" in SpaceX's regulatory filings, contributing about 34.5% of SpaceX's revenue in the third quarter and surpassing the U.S. government to become its largest source of revenue. The two sides' cooperation consists of Anthropic leasing compute capacity from SpaceX's data center in Memphis, Tennessee; the contract is valid until 2029, with a potential spending cap of $120.5 billion, and payments of about $3.1 billion per month starting in December of this year. SpaceX's third-quarter revenue grew 161% and it achieved its first profit, with the superintelligence business generating $7.560 billion in revenue for the quarter, accounting for about 52% of total revenue.
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The report discloses that a single customer contributed over one-third of SpaceX's revenue, allowing readers to understand the concentration risk of the compute leasing business.
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According to a media report citing people familiar with the matter, as the artificial intelligence (AI) computing business expands, Anthropic has become SpaceX's largest customer, contributing more than one-third of the revenue of the company led by Elon Musk in the third quarter.
It is understood that SpaceX disclosed in a regulatory filing last week that about 34.5% of its revenue last quarter came from a customer that pays fees to its AI business unit "Super Intelligence" (which is responsible for providing computing power). The filing labeled the customer only as "Customer B" and did not disclose which company it was.
According to people familiar with the matter, this mysterious customer is Anthropic. This AI developer has surpassed the U.S. government to become SpaceX's largest source of revenue. Musk is gradually building SpaceX's AI business into a so-called new type of computing cloud, renting out data center computing resources to customers such as Anthropic and Google.
It is understood that the specific business cooperation between the two companies is mainly: Anthropic leases computing resources from SpaceX's data center in Memphis, Tennessee. Its IPO prospectus filing shows that the contract signed by the two parties is valid until 2029, with a potential spending cap of $120.5 billion. Starting in December this year, Anthropic will pay up to about $3.1 billion per month.
However, it should be noted that Anthropic can cancel the contract with 90 days' notice after specific dates in January and March 2027.
The above-mentioned regulatory filing also shows that SpaceX's second-largest customer contributed 16.6% of revenue in the third quarter, compared with about 20% in 2025. Musk predicts that NASA, as SpaceX's main customer, will contribute less than 5% of revenue this year.
As SpaceX increasingly relies on AI infrastructure contracts to drive growth, such "dependence" on Anthropic increases investor risk. If Anthropic terminates the agreement next year, it could jeopardize a considerable portion of SpaceX's revenue, at a time when financing conditions are tightening for companies that lease computing power.
Last week, SpaceX reported that third-quarter revenue grew 161%, exceeding Wall Street expectations and achieving its first profit. Among them, the Super Intelligence business also became the company's largest source of revenue for the first time: quarterly revenue reached $7.560 billion, up 830% from $813 million in the same period last year and up 195% from $2.561 billion in the second quarter, accounting for about 52% of the company's total revenue.
Among them, Super Intelligence solutions and infrastructure revenue reached $7.022 billion, a sharp increase from $359 million in the same period last year, mainly due to the launch of new cloud service agreements, the acquisition of AI programming company Cursor, and the expanded application of the Grok model in enterprise and consumer markets.
The disclosure comes as investors are increasingly skeptical of debt-laden AI infrastructure providers, including CoreWeave. Musk argues that SpaceX's satellite broadband and rocket launch businesses provide revenue diversification that many competitors cannot achieve.
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