BREAKING: Anthropic to spend up to $120.5 billion on compute from SpaceXSI.

Anthropic’s S-1 filing reveals:

• Approximately $3.1 billion in combined monthly payments once all capacity is delivered, equivalent to roughly $37.2 billion annualized.

• Full capacity delivery expected in December 2026, with different fees during the ramp-up.

• Initial non-cancellable periods end in January 2027 and March 2027, depending on the agreement.

• Afterwards, either party can cancel with 90 days’ advance written notice.

• Agreements for NVIDIA GPU compute entered into and amended between May and October 2026, with terms extending into 2029.

The $120.5 billion represents potential aggregate spending, subject to those cancellation rights.