The Elon Musk-led company has lost more than $600 billion in value in just three trading sessions, raising concerns about investor appetite for massive AI spending.
SpaceX shares continued their sharp decline in premarket trading on Tuesday, extending a selloff that has already wiped out hundreds of billions of dollars from the company's market value.
The latest drop puts the aerospace and AI giant on course to fall below the $2 trillion valuation mark, just days after one of the biggest market losses ever recorded by a single company.
KEY DETAILS
SpaceX shares fell as much as 5% before the opening bell, trading around $147 per share. The stock has now slipped below its $150 opening-day price and remains under pressure after three consecutive losing sessions.
The company has lost more than $600 billion in market value during that period. Monday's decline alone erased roughly $400 billion, making it the second-largest single-day market value loss on record. The largest remains Nvidia's approximately $590 billion drop last year.
Investors are closely watching SpaceX's plans to raise at least $20 billion through an investment-grade bond offering. The funding is expected to support the company's expanding artificial intelligence ambitions.
SpaceX also recently signed a multibillion-dollar agreement with Reflection AI to provide computing resources for the startup.
MARKET REACTION
The selloff spread across the technology sector, pushing Nasdaq 100 futures lower.
Several major technology companies, including Alphabet, Amazon, Meta Platforms, and Oracle, have also tapped debt markets in recent months to fund large-scale AI infrastructure projects.
Despite the recent decline, SpaceX shares remain about 10% above their initial public offering price of $135.
WHY IT MATTERS
For traders, the move highlights growing scrutiny around the enormous costs associated with AI expansion. Investors appear increasingly sensitive to how major technology companies plan to finance their next phase of growth.
Markets will be watching demand for SpaceX's bond offering, broader sentiment toward AI-related spending, and whether technology stocks can stabilize after the recent wave of selling.
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Source: Yahoo Finance
Time: 2:30 PM EEST
