SpaceX Lands a $6.3 Billion Compute Deal With Reflection AI

SpaceX has signed its fourth big compute contract in as many months, agreeing to supply the open-source lab Reflection AI with up to $6.3 billion of computing power through 2029. Reflection will pay $150 million a month starting July 1 for access to Nvidia's latest GB300 processors at Colossus 2, the company's data center near Memphis, Tennessee, CNBC reported.

The deal continues an unlikely second act for Elon Musk's rocket company, which has spent the year turning Colossus into a rentable AI supercomputer. It follows Anthropic's roughly $45 billion commitment in May and a Google agreement worth about $30 billion in early June, as TechCrunch noted.

Who is Reflection AI

Reflection is one of the more closely watched young labs in the field. Nvidia-backed, it pitches itself as an American open-source answer to China's DeepSeek, and it has built ties to Washington through the Department of Energy's Genesis Mission and Pentagon AI work. The compute it is buying here is the raw material for training the frontier open models it wants to ship, which makes the Colossus contract less a vanity buy than a bet on its own roadmap.

The terms Wall Street did not love

Investors read the fine print and flinched. SPCX shares fell about 10 percent on the news, the stock's worst day since its June 11 Nasdaq debut, trading near $170 after touching $225 at its peak. Two details drove the reaction. Compute-as-a-service carries thin margins compared with launching rockets, and the contract lets either side walk away on 90 days' notice once the first three months are up. A headline number of $6.3 billion looks less solid when a customer can exit after a quarter.

Reflection is hardly alone in leaning on rented silicon. Anthropic is reported to pay around $1.25 billion a month for its capacity and Google near $920 million, so Reflection's $150 million buys a smaller slice. Still, the pattern is the real story. The labs racing to build frontier models increasingly do not own the machines that train them, and the company collecting the rent used to be known mainly for landing boosters.

SpaceX has now stacked compute commitments worth tens of billions on top of a business it began only this spring, a sharp turn for a firm whose last headline AI move was its $60 billion purchase of Cursor.