SpaceX's artificial intelligence unit held discussions with Microsoft this summer about leasing AI computing capacity, making the software giant the latest major name to surface around the rocket company's fast-growing data center rental business.

No agreement between the two companies has been confirmed. Still, the talks highlight how quickly SpaceX has become a landlord to some of the biggest players in artificial intelligence.

From Rockets to Rented Compute

SpaceX integrated xAI in early 2026. The integration brought the Colossus AI data centers in Memphis, which now serve as the backbone of the company's leasing operation.

SpaceX began renting out surplus capacity from Colossus in early 2026, and its client list since then reads like a who's who of the AI industry.

Anthropic will pay up to $1.25 billion per month through May 2029. Google is set to pay $920 million per month starting in October 2026, under a contract that runs for roughly 32 months. Reflection AI signed on at $150 million per month, with its deal running from July 2026 through 2029. An unnamed customer will add another $1.11 billion monthly beginning in December 2026.

Taken together, SpaceX's compute lease revenue reached an annualized total of $41.1 billion, as reported in September 2026 — a run-rate established within the company's first year of renting out capacity.

Where Microsoft Fits In

The Microsoft conversations took place this summer. In August 2026, speculation circulated that Microsoft might seek to lease 3 GW of capacity to cover a shortfall, with those reports valuing the potential deal at approximately $150 billion.

If a deal were signed, Microsoft would join a tenant roster that already includes Anthropic, Google, and Reflection AI. The proposal itself remains unverified, however, and no confirmed negotiations between the two firms have been reported beyond the discussions themselves.

SpaceX reported 1.4 GW of nameplate capacity online as of June 30, 2026, up from 1.0 GW in the first quarter. A 3 GW request would therefore be more than double the capacity SpaceX had running at midyear.

The company is aiming to exceed 2 GW by the end of 2026 and could possibly reach close to 10 GW by the end of 2027.

What This Means

Compute leasing could rival SpaceX's established revenue engines, including launch services and Starlink. The from Anthropic and Google underline how strong demand for AI infrastructure remains, with companies committing more than a billion dollars a month signaling they cannot secure enough capacity elsewhere. With contract terms running into 2029, customers are also locking in capacity years in advance.

SpaceX's growth depends on hitting aggressive buildout targets, from 1.4 GW at midyear to more than 2 GW by year-end and possibly close to 10 GW by the end of 2027. Revenue concentration is another factor: a handful of clients account for most of the monthly commitments, making the health of those relationships critical.

For now, the key items to monitor are whether SpaceX meets its year-end capacity goal and whether the Microsoft talks produce a signed deal. A confirmed agreement would add a fourth tech heavyweight to a tenant list that already includes Anthropic and Google.