34.5% of SpaceX's Revenue Could Disappear by Mid-2027

SpaceX's AI compute business has become its largest revenue driver, growing to over 50% of sales. However, the company faces significant concentration risk with one customer (Anthropic) accounting for 34.5% of total revenue. Starting early 2027, either party can cancel these contracts with just 90 days' notice. As the compute supply shortage eases and competitors develop alternative solutions, SpaceX risks losing this major customer, potentially eliminating over a third of its current revenue.