Canada, SpaceX deal spikes in value amid diversification efforts

1. The Federal Government’s contract with SpaceX Canada has reportedly risen to “13 times” the original size, even after Prime Minister Mark Carney said that the federal government wouldn’t tie its defenses to the company.

According to Tesla North, a Federal contract record shows that the current deal between SpaceX Canada Corporation and Shared Services Canada, the department that runs Canada’s IT and network infrastructure, is now priced at C$28,941,731, which is up from the original C$2.26 million price tag from when it was first signed.

To add some context, the deal was first signed in November, 2023, with it being listed as a network and services deal, mainly using Starlink.

Now, the original deal was set to run from October, 2023, to October, 2025, however delays have pushed it well beyond the date.

The contract first saw a price increase in the fourth quarter of 2025, when it shot up C$8.8 million to C$11.06 million, and a new end date of March 31, 2026. The second jump came in the second quarter of 2025, when the deal shot up C$791,000 and with a new end date of Feb. 28, 2027.

Several jumps in price then followed it, which included a rise that saw it go up C$17.2 million to a high of C$29.39 million, before it settled at its current rate of C$28.94 million, and a current end date of March 31, 2027.

Now, this news comes at an interesting time  between SpaceX and Canadian Government officials. First, Ontario Premier Doug Ford cancelled a C$100 million contract between Starlink and the Ontario government during the initial round of US tariffs in 2025. More recently, Mark Carney announced that “we will be diversifying away from” the Elon Musk-owned company, also adding that “from a defence perspective, and certainly pooled with other partners, Europeans, Koreans especially, you get to scale and you get to cut that dependency.”

Source: Tesla North

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