Elon Musk sparked a debate on X on Thursday when he responded to a user’s question about SpaceX’s deal with Anthropic. Musk said the space‑flight firm had not committed to a multi‑year lease of the AI research company’s Colossus compute cluster. Instead, he described the arrangement as a 180‑day lease that could be terminated by either side with 90 days’ notice. ‘The short term was our request, not Anthropic’s,’ he wrote, adding that SpaceX would provide a “reasonable off‑ramp” if compute resources became scarce.

That description runs counter to the details disclosed in SpaceX’s recent S‑1 registration statement. The filing, which the company submitted as part of its upcoming public offering, lists a cloud services agreement entered on May 3, 2026, with Anthropic PBC. According to page F‑62 of the prospectus, the agreement obligates the customer to pay a monthly fee through May 2029, effectively establishing a three‑year term. The same language appears on pages F‑96, 13 and 146, where the filing quantifies the monthly payment at $1.25 billion.

Both documents agree on a 90‑day termination right, but the filing frames the arrangement as a standard three‑year lease rather than a short‑term trial. The prospectus also notes that Anthropic retains ownership of its content, AI models and related data, underscoring the commercial weight of the agreement.

The divergence between Musk’s informal comment and the formal filing has drawn attention from industry observers. Some point out that a lease’s definition typically hinges on the provider’s commitment to deliver services, not merely the customer’s payment schedule. If SpaceX can walk away with three months’ notice, the practical effect may resemble a short‑term deal, yet the filing’s language suggests a longer, financially binding relationship.

Critics warn that Musk’s statement could be viewed as a material misrepresentation, especially given the timing. The S‑1 filing is part of a quiet period during which companies are restricted from making statements that could influence investors. Mischaracterizing the lease’s duration might run afoul of SEC rules, though analysts note that the agency often takes a hands‑off approach unless a clear violation emerges.

Neither SpaceX nor Anthropic has responded to requests for clarification. xAI, which recently signed a separate compute agreement with Anthropic, declined to comment on the lease dispute. The lack of official remarks leaves the market to interpret the conflicting narratives on its own.

For investors and analysts monitoring the upcoming SpaceX offering, the lease’s true length matters. A three‑year commitment signals a steady revenue stream and a deeper partnership in the AI compute race, while a 180‑day arrangement suggests a more tentative collaboration that could dissolve if compute demand spikes elsewhere.

In the meantime, the episode underscores the challenges of reconciling informal statements made on social media with the precise language required in regulatory filings. As the SEC continues to scrutinize disclosures tied to high‑profile offerings, companies may need to align their public comments more closely with the details submitted to regulators.

This article was written with the assistance of AI.
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