According to CoinMeta, Anthropic is SpaceX’s ( SPCX.O ) largest single customer, contributing over one-third of the company’s revenue in the third quarter of 2026. Documents submitted by SpaceX last week showed that approximately 34.5% of the revenue in the previous quarter came from a customer that purchased computing power for its AI department, and people familiar with the matter confirmed that this customer is Anthropic. The total expenditure of the computing power contract signed between Anthropic and SpaceX can reach up to $120.5 billion, with a term until 2029, and it is estimated that the average monthly expenditure will be around $3.1 billion starting from December 2026. However, Anthropic can cancel the relevant contract with 90 days' notice after January and March 2027. The report points out that SpaceX’s reliance on Anthropic’s revenue highlights the risk of customer concentration in its AI computing power business. At the same time, the AI computing power leasing industry is facing pressure from tightened financing. Another major customer in the third quarter was a related government agency, which contributed 16.6% of the revenue, while the U.S. federal government has always been its largest single customer.