Why SpaceX is investing in artificial intelligence and issuing debt for the first time

SpaceX is making a significant push into the artificial intelligence (AI) infrastructure market, securing multi-billion dollar deals to provide computing capacity. The company recently announced a contract with startup Reflection AI, which will pay $150 million monthly from July 2026 to 2029 for access to computing power. This deal, potentially worth up to $6.3 billion, is subject to a 90-day cancellation clause after the initial three months.

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The company announced a new contract with the startup Reflection AI, through which the latter will pay US$150 million monthly from July 2026 to 2029 for access to computing capacity based on Nvidia GB300 chips installed in the Colossus 1 data center in Memphis, Tennessee.

This agreement follows two other major contracts SpaceX signed in the preceding two months with AI companies Anthropic and Google. The deal with Anthropic is valued at $1.25 billion per month, while the agreement with Google amounts to $920 million per month. Both contracts are set to run until 2029 and include similar cancellation terms. These ventures demonstrate SpaceX's strategy to diversify its revenue streams beyond its core space launch and satellite services.

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This is the third large-scale contract that SpaceX has signed in just two months to rent processing infrastructure for the training and operation of advanced artificial intelligence models.

The surge in demand for AI computing power is driven by the rapid development of complex AI models that require substantial technological resources. Reflection AI, a 2024 startup founded by former Google DeepMind researchers, focuses on open-source technologies and aims to foster an "open American intelligence." The company has already achieved a private valuation nearing $25 billion, according to specialized media.

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The agreements reflect how SpaceX is diversifying its businesses beyond space launches and satellite services.

Despite these substantial business developments, SpaceX's stock price has faced pressure. Shares fell 16.4% at the close of trading on Monday, extending losses from the previous week. This downturn occurred amidst a broader correction in the technology sector, with major companies like Alphabet, Amazon, Microsoft, and Meta also experiencing declines. Investor caution, fueled by upcoming U.S. inflation data and expectations surrounding Federal Reserve decisions, contributed to the market sentiment. However, SpaceX shares showed a slight recovery in after-hours trading.

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The startup stated that it seeks to promote an 'open American intelligence' and highlighted that governments and companies are increasingly evaluating the risks of relying exclusively on closed AI models.