SpaceX stock fell 16.43% to $154.60 on Monday, resulting in a $400.8 billion decline in market capitalization, marking the second-largest one-day value loss for a U.S. company. The space company's valuation now stands at approximately $2.04 trillion, ranking it as the seventh most valuable company in the world. Economist Peter Schiff noted that Elon Musk lost roughly $150 billion on paper during the session, a figure exceeding Warren Buffett’s total net worth of about $145 billion. Despite the significant loss, Musk remains the world's only trillionaire.

The recent decline continues a multi-day downward trend for SpaceX since its highly anticipated initial public offering (IPO) on June 12. Early investors who bought in at the IPO price of $135 remain profitable, while those who purchased after the first day of trading are facing losses. The stock closed at $160.95 on its debut, and the subsequent volatility has drawn comparisons to significant market corrections. The loss in value is equivalent to the combined market capitalizations of Palantir Technologies and Robinhood Markets, plus an additional $19.1 billion.

Financial Impact and Investor Reaction

SpaceX disclosed it had $100.8 billion in cash and cash equivalents as of June 19. Cathie Wood’s Ark Invest bought 210,121 SpaceX shares across four ETFs on Monday, adding roughly $32.5 million worth of stock at the day’s closing price. The purchases extended Ark’s aggressive bet on SpaceX after it bought about 3.3 million shares on the company’s IPO day. Bullish investors are still betting Musk can drive long-term returns at SpaceX, though the company posted a $4.9 billion net loss in 2025 and lost $4.28 billion in the first quarter.

SpaceX shares were up 1.42% to $156.80 during the after-hours trading session on Monday.

SpaceX has signed a $6.3 billion AI compute agreement with open-source startup Reflection AI, extending Elon Musk’s Colossus infrastructure strategy and highlighting the rise of AI compute as a standalone business line. The deal positions SpaceX to monetize its high-performance computing capacity amid surging demand for AI training power.

The Reflection contract will run about $150 million per month starting July 1, 2026, and extend through the end of 2029, for a total near $6.3 billion if fully executed. Reflection will tap Nvidia-powered clusters in xAI data centers, making it the latest external tenant on Colossus.

Strategic Partnerships

Reflection joins Alphabet Inc. and Anthropic as major external tenants on the Colossus infrastructure. Previous agreements from Google and Anthropic to use SpaceX’s compute are valued at roughly $30 billion and $45 billion, respectively, and extend to around mid-2029.

These arrangements sit inside Musk’s broader strategy to sell excess Colossus capacity to rival model labs rather than rely solely on internal workloads. By selling high-margin GPU capacity to customers like Anthropic, Google, and now Reflection, SpaceX is turning scarce compute into a core strategic asset.

Contract Details

The following table outlines the key financial terms for SpaceX's major AI compute contracts:

In May, filings showed Anthropic agreed to buy roughly 300 megawatts of AI infrastructure from xAI, effectively taking the entire output of the Colossus 1 site near Memphis through May 2029. Google has separately agreed to pay SpaceX about $920 million per month for compute over 32 months to access roughly 110,000 Nvidia GPUs plus supporting infrastructure in xAI facilities.