AI 算力军备竞赛的账单终于公开了——做 AI 基础设施或云计算的从业者，看完这个数字会重新理解算力定价和供应链格局。
Anthropic 此前承诺每月向 SpaceX 支付 12.5 亿美元用于 GPU 算力，加上 Google 新披露的每月 9.2 亿美元云合同，两家 AI 实验室合计每月支付 21.7 亿美元，年化收入达 260 亿美元。Google 在 2015 年以约 9 亿美元投资 SpaceX 获得约 7% 股份，如今 SpaceX 目标 IPO 估值 1.75 万亿美元，Google 持股价值约 870-1070 亿美元，回报率高达 97-119 倍。这笔交易不仅体现了 AI 算力需求的爆发，也凸显了 SpaceX 从卫星互联网到发射主导权再到 AI 算力合同的业务转型。
Anthropic previously committed to paying SpaceX $1…
Anthropic previously committed to paying SpaceX $1.25B per month for GPU compute.
With the new Google cloud deal that was disclosed today, adding $920mil monthly, the two AI labs (Google + Anthropic) together are now collectively paying SpaceX $2.17B per month, a huge $26 billion annualized revenue run rate.
To note, Alphabet also has made a huge gain from backing SpaceX. Google invested about $900M in SpaceX in Jan-2015, for roughly 7%, when SpaceX’s valuation was around $12 B.
And SpaceX now targets a $1.75T IPO valuation. A reported 6.11% Google stake at 12-25 would be worth about $107B at $1.75T, while a diluted 5% stake would be worth about $87.5B .
Against a roughly $900M entry cost, that implies around 97x to 119x on paper, before taxes, lockups, dilution, or any discount investors apply after trading starts.
The business shift is also important: Alphabet first backed SpaceX in 2015, partly for satellite internet, but the upside now includes Starlink, launch dominance, and newly filed AI compute contracts.