Reflection AI will pay SpaceX $6.3 billion for access to Nvidia GB300s inside Colossus 2, the Memphis-area data center that Elon Musk’s rocket company inherited when it absorbed xAI. Payments of $150 million a month begin July 1 and run through 2029. After the first three months, either side can walk on 90 days’ notice, per Bloomberg, which gives the contract the shape of a very expensive month-to-month lease dressed up in a multibillion-dollar headline.

The recipient of those payments is SpaceXAI, the division Bloomberg names as the legal home for the compute business. The customer is a startup founded in 2024 by two former Google DeepMind researchers, last valued at $25 billion, with $800 million from Nvidia already on the cap table. Reflection’s spokesperson framed the logic plainly: “more compute means more runway to build the world’s best open models at scale.”

The deal’s real significance is what it confirms about Colossus 2’s tenant list. TechCrunch puts Anthropic at $1.25 billion a month and Google at $920 million a month, both contracts running through roughly mid-2029, with Yahoo Finance pegging the cumulative commitments near $45 billion and $30 billion respectively. Cursor is reportedly being acquired by SpaceX. Reflection also has a footprint inside the Department of Energy’s Genesis Mission. Anthropic, meanwhile, has cut off access to products like Fable and Mythos, the sort of platform-risk story that makes Reflection’s open-source pitch land harder.

What’s happening structurally is that an aerospace company has become the neutral compute landlord for labs that compete with one another and, in xAI’s case, with their own landlord. It’s the cloud-provider conflict of interest from the 2010s reissued at frontier scale, except the host doesn’t sell a model of its own to the public and the tenants pay in nine-figure monthly tranches.

SpaceX shares fell 10.6% in afternoon trading. The market, it seems, can read a 90-day termination clause.

Sources