How did the denial affect Dell and Super Micro stocks?

Dell and Super Micro shares rose in premarket trading after Musk's denial.

Why was the rumored deal important for Dell and Super Micro?

Because they are traditional AI server suppliers to SpaceX, and the deal would have threatened their market share.

Did Foxconn or SpaceX ever confirm the deal?

No, neither company confirmed the deal, and Musk publicly denied it.

Elon Musk Denies $52B AI Server Deal With Foxconn

Elon Musk denied a media report that SpaceX was about to sign a $52 billion AI server deal with Foxconn, causing Dell and Super Micro stocks to rise in premarket trading.

July 20, 2026

2 min read

Source: Stocktwits

Key Numbers

rumored deal value

$52 billion

Elon Musk, CEO of SpaceX, denied a media report claiming the company was on the verge of a $52 billion AI server deal with Foxconn. According to Stocktwits, Musk called the report "untrue" on X (formerly Twitter).

Details

The original unconfirmed report suggested SpaceX planned to purchase $52 billion worth of AI servers from Foxconn, which would have been a blow to Dell and Super Micro Computer (SMCI), both traditional suppliers of AI servers to SpaceX. Following Musk's denial, Dell and Super Micro shares rose in premarket trading, while Foxconn shares fell.

Context

Dell and Super Micro are key AI server suppliers to SpaceX, and a major deal with Foxconn would have threatened their market share. This development comes amid booming demand for AI servers driven by the rapid growth of artificial intelligence applications.

What It Means for Investors

While Musk's denial removes near-term uncertainty, investors should remain cautious. Competition in the AI server market remains fierce, and other deals could emerge. It is advisable to monitor the situation closely.

Frequently Asked Questions

Elon Musk denied a report of a $52 billion AI server deal between SpaceX and Foxconn.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.