SCX.ai joins SpaceX's Grok partner network

At a glance

• ASX-listed SCX.ai has joined SpaceX's new partner network for its Grok AI models, helping build plugins that connect Grok tools to computing hosted in Sydney.

• US security firm F5 will extend its software into SCX's infrastructure to offer walled-off AI computing for regulated industries in Australia and Asia Pacific.

• SCX runs its AI computing from one node of SambaNova chips at Equinix's SY5 data centre in Sydney.

• Its first quarterly report as a listed company shows A$8.3 million of annualised recurring revenue and positive operating cash flow.

• A second node is targeted for the end of 2026, with first customers on it in early 2027.

SCX.ai said on 27 October 2026 that it has joined the SpaceX Super Intelligence Partner Network, which SpaceX launched on 22 October with more than 130 launch partners, including NVIDIA, Databricks and Snowflake, to sell its Grok AI models to business. SCX says it is the network's only Australian launch partner. It announced the partnership alongside its first quarterly report since listing on the ASX on 21 August.

Through SCX, SpaceX gains a route to Australian customers whose data has to stay onshore. SCX sells inference, the computing that runs trained AI models, priced per token, the units of text a model reads and writes. It runs chips made by US company SambaNova in rented space at Equinix's SY5 facility in Sydney. SCX runs its AI capacity inside an existing Sydney data centre, and in its first listed quarter customer receipts covered its running costs.

SpaceX and F5 deals route global AI through Sydney racks

As part of the network, SCX's models and tools are available through Cursor, the AI coding software, and SCX helps build plugins on the Grok marketplace that let Grok products run on its Australian-hosted inference.

F5, the US firm that secures applications for banks, telcos and governments, signed a separate commercial partnership with SCX. F5's software will extend into SCX's infrastructure to create what SCX calls secure sovereign enclaves, walled-off computing for Australia and Asia Pacific, aimed at regulated industries and government.

"With SpaceX and F5 partnerships now live, we are layering global distribution on top of strong local sovereign demand," SCX co-founder and chief executive David Keane said.

One node of SambaNova chips at Equinix SY5

SCX's computing sits principally in one node, a self-contained cluster of racks, at SY5 in Sydney, one of the facilities in the data centre companies directory. It has paid A$13.1 million for equipment this year, and buys both its chips and its managed AI software services from SambaNova. SCX has said the node needs no water cooling. It averaged about 50 per cent utilisation in October, a figure SCX says covers all models, users and uses and is not a reliable guide to future revenue.

Firmus and Sharon AI, two of the neocloud providers in Australia, run large NVIDIA GPU fleets for a small number of customers on multi-year contracts. SCX sells by the token to more than 100 customers, and serves the inference demand behind the micro data centre comeback.

Recurring revenue up 54% since the prospectus

Source: SCX.ai September 2026 Quarter Report and Appendix 4C, 27 October 2026.

Annualised recurring revenue, the yearly value of SCX's current contracts, is up 54 per cent since the A$5.4 million in its prospectus. Operating cash flow was A$1.0 million positive in the quarter, and SCX has no borrowings. It paid for the quarter's A$10.8 million of SambaNova hardware from its A$40 million IPO, while larger neoclouds have also used GPU-backed loans, on which Australian AI companies pay 6% to 10%.

AI inference fits inside an existing Sydney data centre

SCX has a single node so far, so one quarter of results is an early sign for Australian AI infrastructure rather than a trend. It shows AI inference being sold from rented space in a shared city data centre, at a time when infrastructure-as-a-service is Australia's fastest-growing IT spend. SCX now trades alongside the larger ASX data centre stocks, and its prospectus committed it to buy 20 SambaNova racks in two lots of ten, with A$8.5 million of its IPO hardware budget still unspent.

What to watch

• Node 2, targeted for the end of 2026. Its location, and whether it goes inside Equinix capacity.

• The December quarter report, due by the end of January 2027. The first report to cover Node 2's deployment.

• Grok revenue. The first figure for sales through the SpaceX network.