Anthropic becomes SpaceX’s biggest customer with a third of sales
SpaceX’s latest quarterly results show Anthropic driving its sales, Semafor reported, as investors worry the tech market leans on too few companies.
Anthropic became SpaceX’s biggest customer last quarter, accounting for a third of the company’s sales, Semafor reported on October 30, citing SpaceX’s quarterly results.
The figure feeds a growing worry among investors that the AI industry, and the wider economy, depends on the performance of a small number of companies, which raises the risk of market instability if one of them fails, Semafor reported.
The dependence runs in more than one direction. Anthropic’s IPO prospectus, made public in the week of October 26, shows that almost half of its revenue comes from Amazon, Google, and Microsoft, according to Semafor.
“Concentration and acceleration are also risky in their own right,” Bridgewater said in a note to clients. “They mean that more plain luck is needed to keep economies chugging.”
SpaceX has been raising money for its own computing buildout. Elon Musk, its chief executive, wrote on X on October 25 that the company had closed $40 billion of debt to buy GPUs, and Bloomberg reported on October 26 that SpaceX had signed a roughly $40 billion equipment-finance lease with Apollo Global Management to pay for the chips.
Anthropic, for its part, has put its own market opportunity at $40 trillion, tied to the economic value of work done by knowledge workers, The Wall Street Journal reported on October 28. That estimate tops the figure SpaceX gave for its own market earlier this year.