Signal Reflection AI begins $6.3B compute lease at SpaceX Colossus 2 (Memphis)

Summary

Reflection AI, an open-source AI lab co-founded by two former Google DeepMind researchers — including a reward-modeling lead and an AlphaGo co-developer — began monthly payments of $150 million on July 1, 2026 for access to Nvidia GB300 chips at SpaceX's Colossus 2 facility in Memphis, a deal that could total roughly $6.3 billion if it runs through its full 2029 term; either party can terminate with 90 days' notice after the first three months. The company, valued at $25 billion with backing from Nvidia, Sequoia and Lightspeed, has not yet released a public frontier open-source model but has cultivated ties with national-security clients including participants in the Department of Energy's Genesis Mission and various Pentagon AI programs. The Colossus complex now houses roughly 555,000 Nvidia GPUs acquired for about $18 billion, with a planned two-gigawatt total power capacity, and this deal is smaller than SpaceX's prior compute leases with Anthropic (about $45 billion through mid-2029, $1.25 billion/month) and Google (about $30 billion, $920 million/month). SpaceX stock fell 10.6% after the Reflection deal was announced, despite the added recurring revenue, coming shortly after SpaceX's IPO priced at $135 per share on June 12, 2026 at a $1.77 trillion valuation — the largest IPO valuation in history.