SpaceX shares slip from $176 high as talks emerge over $40B fundraising for AI push
Reports that SpaceX is discussing a $40B bank-loan and investment-grade debt package to scale AI (including greater Nvidia chip purchases) support the longer-term growth narrative, but near-term trading is complicated by broader risk-off tone after hawkish FOMC minutes. A large Oct 9 share unlock (328.4M shares) introduces potential supply overhang and heightened volatility around the event.
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SpaceX is in talks to raise $40 billion through bank loans and investment-grade bonds to expand its artificial intelligence business, the Financial Times reported. The plan follows Morgan Stanley’s reiteration of a $300 price target for the stock. Separately, 328.4 million shares valued at $54.8 billion are set to become eligible for sale on October 9 for the first time.