Earlier this month, xAI finalized a major computing arrangement with Anthropic, committing billions of dollars monthly for exclusive access to the company’s Colossus cluster. This deal was a win-win: it provided xAI with much-needed revenue while helping Anthropic keep pace in the relentless competition for computing power. However, this morning on X, Elon Musk downplayed the extent of SpaceX’s commitment. “SpaceX has not committed to leasing Colossus for years, although it’s possible that may be what happens,” he said in response to a user. “This is a 180-day lease with a 90-day notice mutual cancellation thereafter. The short term was our request, not Anthropic’s. We won’t leave them hanging and will provide a reasonable off-ramp, but if compute gets super tight, I said we might need it back at some point.”

Musk’s statement directly contradicts SpaceX’s recent S-1 filing, which confirms the standard 90-day cancellation clause but presents the agreement as a three-year commitment. Page F-62 of the filing reads:

On May 3, 2026, the Company entered into a cloud services agreement with Anthropic PBC, an AI research and development public benefit corporation, regarding access to compute capacity. Under this agreement, the customer has agreed to pay a monthly fee through May 2029, with capacity starting in May 2026 at a reduced rate. The agreement may be terminated by either party with 90 days’ notice. The customer will retain ownership and intellectual property rights in its content, AI models, and related data.

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The critical detail here is that Anthropic “has agreed to pay a monthly fee through May 2029”—a clear description of a three-year lease. This same language appears on page F-96 and in slightly different forms (“the customer has agreed to pay us $1.25 billion per month through May 2029”) on pages 13 and 146, so it’s not a typo. xAI did not respond to a request for clarification. One could argue over whether Anthropic agreeing to pay for a service is the same as SpaceX agreeing to provide it, but that’s not typically what “lease” means. And why include a one-way lock-in if either party can terminate the deal with three months’ notice anyway?

I don’t have the contract in front of me, so I can’t verify its exact terms—and neither SpaceX nor Anthropic is commenting on the deal’s duration in their announcements. Still, there should be a straightforward fact here, and making false statements during a company’s quiet period is not advisable. As always, the SEC likely won’t take action—and even if it did, Elon probably wouldn’t care. But this does appear to be a material misrepresentation made while marketing a security, which at the very least is bad karma. Sean O’Kane contributed reporting to this article.