SpaceX and Reflection AI signed a $6.3 billion compute deal on June 22, giving the startup access to computing capacity at SpaceX’s Colossus 2 data center.
“More compute gives us more room to push the frontier on open models,” Reflection AI said on LinkedIn.
Founder and CEO Elon Musk’s SpaceX will receive $150 million a month, starting July 1, 2026, through the end of 2029. Reflection AI will receive access to Nvidia GB300s, AI chips used to train and run advanced AI models, as well as supporting hardware.
After the first three months of the contract, either company can exit the agreement with a 90-day notice.
On June 16, SpaceX stated in a regulatory filing that it will purchase Cursor, another AI startup, for $60 billion in an all-stock deal.
“For the past few months, SpaceXAI has been jointly training a model with Cursor, which will be released in Cursor and Grok Build soon,” SpaceX said on X on June 16. “We look forward to working closely with the Cursor team to advance our frontier AI capabilities.”
SpaceXAI stems from the acquisition of xAI, a separate startup of Musk’s that SpaceX merged with in February.
San Francisco-based Cursor, founded in 2022, specializes in AI-assisted software services, including automating coding through AI.
SpaceX confirmed the Cursor deal is not being funded by its June 12 initial public offering (IPO). The deal is expected to close during the third quarter of 2026.
Since its historic IPO, SpaceX has become one of the most valuable companies in the world, with a market cap above $2 trillion.
The offering helped Musk become the world’s first trillionaire as his shares jumped.
SpaceX’s offering price was $135, and it originally listed for $150. It briefly passed Amazon on June 16 to become the fifth-largest company when it hit an intraday high of over $225.
The stock has since fallen to around $154, its lowest closing price since the IPO, after posting three consecutive trading session losses, including a decline of more than 16 percent on Monday alone.
On Aug. 11, the first wave of lockup periods will expire, allowing insiders to begin selling their stock.
Multiple periods will end in the following months, with the final period ending on Dec. 9, but Musk’s stake will be unlocked on June 13, 2027, one year after the IPO.
On June 22, the company also disclosed a senior unsecured note offering with the Securities and Exchange Commission for its first bond sale, though it was unclear how much it plans to raise.
Reuters contributed to this report.
