It's fake news! Musk denies that SpaceX ordered $520 billion NVIDIA Corporation AI servers from Foxconn.

Regarding reports that SpaceX (SPCX.US) has ordered approximately $52 billion worth of AI servers from NVIDIA Corporation (NVDA.US), SpaceX CEO Musk denied the news on social media on Monday, bluntly stating that the news is "fake." Earlier reports stated that Hon Hai Precision, the parent company of Foxconn, had received an order for SpaceX's new generation of AI servers. SpaceX plans to deploy over 13,000 server racks based on NVIDIA Corporation's GB300 platform. The report estimated that if each rack is valued at approximately $4 million, the order would be close to $52 billion. However, this number is not the contract amount but rather a theoretical estimate based on the cost of each rack. As of the time of publication, Hon Hai and NVIDIA Corporation have not commented on the reports. Analyst Jukan from Citrini previously wrote that Hon Hai has broken the duopoly of Dell Technologies, Inc. Class C (DELL.US) and Super Micro Computer, Inc. (SMCI.US) in the AI server manufacturing field, securing SpaceX's next-generation GB300 AI server manufacturing order for the first time. Jukan also stated that this order has not been reflected in Hon Hai's existing performance guidance, indicating that the company's AI business growth momentum may exceed market expectations. Coupled with the strong performance of its subsidiary Foxconn Industrial Internet (FII), market expectations for Hon Hai's performance in the second half of the year have significantly increased. Impacted by the news, SpaceX's stock rose by approximately 1% in pre-market trading on Monday, but erased all gains after the market opened, currently down by 1.77%. With Musk publicly denying the authenticity of the reports, the market has begun to reassess the credibility of the related rumors.