Key Takeaways Reflection AI, an emerging AI firm, has entered into an agreement with SpaceX for Nvidia GB300 chip access at the Colossus 2 facility, costing $150 million monthly. The contract
SpaceX (SPCX) stock experienced a significant decline of roughly 10.6% following news of a massive $6.3 billion computing agreement with Reflection AI — an AI startup that has yet to launch a commercial product or generate any revenue.
Space Exploration Technologies Corp, SPCX
CNBC broke the story on June 22. According to the agreement’s structure, Reflection AI will gain prompt access to Nvidia GB300 processors located within SpaceX’s Colossus 2 Memphis data center. Monthly installments of $150 million commence on July 1, 2026, with the contract extending until 2029.
If executed in full, the arrangement would generate roughly $6.3 billion in total payments. Both parties retain the option to terminate with 90 days’ notice following an initial three-month period.
Neither SpaceX nor Reflection AI provided responses to Reuters’ inquiries.
Reflection shared on LinkedIn that “additional compute capacity enables us to further advance the boundaries of open models,” offering no additional specifics.
SpaceX has been methodically assembling an impressive collection of high-profile computing clients at its Colossus facilities. Anthropic secured exclusive access to all of Colossus 1 for approximately $1.25 billion monthly. Google subsequently committed to $920 million per month for transitional capacity while constructing its proprietary data centers, with service beginning October this year and continuing through June 2029. Reflection represents the fourth major tenant in a portfolio that emerged from nothing within the past year.
Reflection was established in early 2024 by co-founders Misha Laskin and Ioannis Antonoglou, both alumni of Google DeepMind. Laskin previously directed reward modeling efforts for Gemini. Antonoglou co-developed AlphaGo. The startup completed a $2 billion funding round last October at an $8 billion valuation, with Nvidia serving as the lead investor. By spring 2026, industry reports suggested its valuation had climbed toward $20 billion. The company has not yet released any public model.
The organization has established itself as an open frontier laboratory concentrating on government and national security applications, including initiatives connected to the Department of Energy’s Genesis Mission and various Pentagon AI contracts.
Despite securing billions in guaranteed recurring revenue from an additional tenant, SPCX shares fell approximately 10.6% on announcement day — marking the sharpest single-day decline since the company’s June 11 public debut at a $1.77 trillion valuation.
The market reaction surprised several analysts. SpaceX is securing guaranteed, recurring payments against existing infrastructure assets. The Colossus 2 agreement alone contributes $1.8 billion in annual contracted revenue. This financial dynamic doesn’t immediately explain the negative market response.
The agreement features a 90-day termination provision following the initial three-month period, meaning the critical evaluation point arrives around late October. Should Reflection choose not to exercise this exit option, the lease essentially transitions from potentially temporary to confirmed long-term demand.
Reflection’s LinkedIn communication mentioned advancing the frontier on “open models.” The company has not disclosed a timeline for any public product release.
SpaceX, Reflection AI, and Nvidia had not provided additional comments by publication time.
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