Musk Douses $52B SpaceX AI Server Rumor, Dell and SMCI Shares Reverse Gains

A single Musk tweet cooled a red-hot rumor about a massive SpaceX AI server order, briefly lifting shares of Dell Technologies (DELL) and Super Micro Computer (SMCI). But by Monday’s regular session, both stocks had given back their early gains and turned negative. As of 10:00 a.m. ET, Dell (DELL) was at $24.07, down 0.45% from Friday’s close of $24.18; Super Micro (SMCI) was at $24.07, also down 0.45%.^{[Yahoo Finance]}

Musk Personally Denies Rumor, Taiwan Media Origin

The market jolt began with a report from Taiwan’s Economic Daily News, which said SpaceX planned to buy more than 13,000 AI server racks from Foxconn, each powered by Nvidia’s (NVDA) next-generation GB300 chips at roughly $4 million per rack — a total order value of about $52 billion.^{[TradingView]} The report also suggested that Dell and Super Micro, the long-time AI server suppliers to SpaceX, had been replaced by Foxconn.^{[IBTimes UK]}

The story quickly spread across X, where analyst Jukan (Citrini) posted that Foxconn had replaced Dell and Super Micro, claiming deliveries would begin in late 2026 and run through Q1 2027.^[Stocktwits] But Musk himself stepped in Sunday, responding to a post that summarized the rumor with a blunt: “This is fake news.”^{[IBTimes UK]} The original post was later deleted, though Musk’s reply remains visible.

Brief Premarket Bounce Reverses, AI Sector Under Pressure

After Musk’s denial, Dell and Super Micro shares bounced in premarket trading Monday. According to TradingView, Dell rose about 0.4% and Super Micro gained roughly 0.8% in premarket, recovering some overnight losses.^{[TradingView]} But the gains evaporated once regular trading began, and both stocks turned negative by the time of this writing.

IBTimes UK noted that while the percentage moves were modest, they were significant for investors given the recent sharp pullback in AI-related stocks.^{[IBTimes UK]} Dell is down roughly 8% month-to-date in July, while Super Micro has fallen about 18% over the same period, as money rotates from the highest-valued AI and semiconductor names into large-cap tech and software.^[Stocktwits] Had the Foxconn rumor been true, it would have compounded the pressure on both companies, not only risking the loss of a key AI customer but also handing Foxconn a massive foothold in the North American cloud and AI infrastructure market.^{[IBTimes UK]}

Market Reaction: Retail Cautious, Analysts Eye Fundamentals

On Stocktwits, retail sentiment toward Dell was “neutral” and “bearish” for Super Micro.^[Stocktwits] One trader said: “$DELL is one of my top AI infrastructure plays… $DELL is holding up better than many names in the space, showing buyers are still defending the trend.”^[Stocktwits] Another wrote: “$SMCI I bet shorts are panicking! They were expecting a 5% premarket drop.”^[Stocktwits]

IBTimes UK cautioned that without an official SpaceX statement or filing, all discussion of specific contract values, chip models, or delivery timelines remains speculation and should be treated with skepticism.^{[IBTimes UK]} Looking at the bigger picture, Dell and Super Micro remain core players in AI infrastructure buildout. Dell is leveraging its broad enterprise customer base to expand AI server products and partnerships, while Super Micro is focused on growing its AI server portfolio and manufacturing capacity — though it has also faced increased scrutiny over governance and legal issues in recent months.^[Stocktwits]

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