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SpaceX to Reportedly Grant Reflection AI Access to Computing Infrastructure in $6.3 Billion Deal

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SpaceX to Reportedly Grant Reflection AI Access to Computing Infrastructure in $6.3 Billion Deal

Space Exploration Technologies (SPCX) agreed to grant Reflection AI access to the rocket and satellite company's computing infrastructure for up to $6.3 billion, CNBC reported Monday.

Under the deal, Reflection, an open-source artificial intelligence startup, will pay $150 million per month to SpaceX for using Nvidia's (NVDA) GB300 chips starting July 1, the report added, citing materials viewed by CNBC.

The total payment will be about $6.3 billion if the deal runs through the end of its term in 2029, according to the report. The agreement allows either party to terminate the deal after a 90-day notice period after the first three months, CNBC reported.

SpaceX and Reflection didn't immediately respond to a request for comment by.

Separately, SpaceX said in a regulatory filing on Monday that it has launched its first offering of senior unsecured notes to repay outstanding bridge loan debt and cover general corporate expenses. The space exploration firm added that it holds approximately $100.8 billion in cash and cash equivalents as of June 19.

Shares of SpaceX plunged over 10% intraday.

Last week, SpaceX closed its IPO of about 638.9 million shares at $135 apiece, including full exercise by underwriters of their option to buy an additional 83.3 million shares. The company also agreed to acquire Anysphere, which operates AI coding agent Cursor, in a deal worth about $60 billion.

"We believe (SpaceX) is positioned to remain the dominant leader in space launch and space-adjacent verticals for the foreseeable future, capitalizing on its head start (versus) the competition," KeyBanc Capital Markets said in a note on Monday.

The brokerage initiated coverage of SpaceX with sector weight rating. Starlink is driving profitable growth for the company while AI remains a long-term revenue driver boosted by recent contracts, according to the note.

"(SpaceX) possesses significant disruptive growth avenues, though we believe this is reflected in current valuation and risk/reward appears balanced, in our view," KeyBanc wrote.

Price: $165.49, Change: $-19.51, Percent Change: -10.55%

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