Reflection AI Is Paying SpaceX $150 Million a Month. No Model Has Shipped.

Reflection AI started paying SpaceX $150 million a month on July 1 for access to Nvidia GB300 chips at Colossus 2, SpaceX's AI training campus in Memphis, Tennessee. CNBC reported the deal on June 22, citing people familiar with the terms. Payments run through 2029, a total commitment of $6.3 billion. Neither SpaceX nor Reflection AI issued a press release. No product from Reflection AI has shipped yet.

Reflection AI Has a $25 Billion Valuation and No Public Model

Reflection AI's founders came from Google DeepMind. Misha Laskin ran RLHF and reward model development at the lab; Ioannis Antonoglou designed AlphaGo, AlphaZero, and AlphaStar, then led Gemini's post-training team before leaving to start the company.

Nvidia backs the startup. After a $130 million raise at a $545 million valuation in March 2025, Reflection secured $2 billion at an $8 billion valuation in October and carries an estimated valuation of about $25 billion today. Still no model.

Reflection AI describes itself as an open-source frontier lab. Building in the open would put its eventual model in direct competition with Meta's Llama series and Mistral, while targeting the closed labs on capability grounds.

Paying $150 million a month before shipping a product would look reckless from most companies. Reflection AI is betting it isn't. From a team that built AlphaGo and led Gemini post-training, the bet is probably that whoever controls the best compute long enough ends up with the best model. Open-source development requires enormous training runs - and the GB300 chips at Colossus 2 sit near the top of what's commercially available today.

SpaceX Is Building a Commercial AI Compute Platform at Colossus

Colossus 2 came online in January 2026. Outside Reflection AI, the campus hosts compute for Anthropic, Google, and Cursor - which SpaceX acquired for $60 billion in June in the largest startup deal ever recorded. Committed revenues from external Colossus clients now exceed $80 billion through 2029. SpaceX has not broken out Colossus as a separate revenue segment in any public filing.

SpaceX built Colossus to train xAI's Grok. Selling spare capacity to outside AI labs follows the same logic that took SpaceX public at $75 billion earlier this year: turn every fixed asset into a revenue line.

Reflection AI's contract runs through 2029. Either side can exit on 90 days' notice after the first three months. Reflection AI has not announced a model, a release timeline, or any public confirmation of what the Nvidia GB300 access will train.