Overview
- Reflection AI agreed to pay $150 million a month for access to Nvidia GB300 GPUs at SpaceX’s Colossus 2 data center in Memphis with billing to begin July 1, 2026 and the contract running through 2029 if carried to term.
- The deal includes a three‑month initial period followed by a 90‑day termination option for either party, which leaves the early months as the pivotal test of whether contracted payments convert into sustained revenue.
- Markets reacted negatively to the announcement, with SpaceX (SPCX) shares falling about 10.6% on the news as investors weighed the gap between booked contracts and practical delivery risks.
- Reflection AI is a pre‑revenue startup that raised $2 billion at an $8 billion valuation last October with Nvidia as a lead backer and has said additional compute will advance its work on open models and some government‑linked projects.
- The lease adds to a rapid Colossus client buildout that includes Anthropic, Google and Cursor and signals a new revenue path for SpaceX while also highlighting operational, GPU‑generation and counterparty risks that investors will watch closely over the coming months.