SpaceX S-1 Discloses xAI's Heavy Losses and a $40B+ Anthropic Compute Lease

Data Center Dynamics·medium signal

SpaceX's S-1 IPO filing surfaced fresh financials on xAI, reporting roughly a $2.4B Q1 2026 loss against $7.7B in capex, and detailing a deal in which rival Anthropic rents 300MW (~220,000 GPUs) of Colossus 1 capacity near Memphis for $1.25B per month through May 2029 — a contract that could exceed $40B in revenue, capped at ~11% of the park, terminable by either side on 90 days' notice. The disclosure underscores how entangled frontier labs' balance sheets have become through shared compute.