SpaceX Pledges Nvidia-Only AI While Building Its Own Chips

On August 4, 2026, Elon Musk declared SpaceX "exclusive to Nvidia" for AI compute. Two days earlier, SpaceX's first financial disclosure revealed compute contracts exceeding $25 billion annualized. Yet in April 2026, SpaceX told investors its Terafab project aims to produce GPUs in-house to manage chip supply risk. One company, two contradictory bets: lock in a single vendor while racing to replace it.