SpaceX market value poised to fall under $2 trillion
SpaceX, the rocket company led by Elon Musk, just saw its market value is on track to drop under $2 trillion thanks to a sharp fall in its share price.
Shares slid 5% in premarket trading to $147, lower than their opening price of $150 when trading began.
Over the past three sessions, the company lost more than $600 billion in value, including a massive $400 billion hit on Monday alone.
SpaceX launches bonds to fund AI
Even with this big dip, SpaceX isn't slowing down on its tech ambitions. The company is rolling out its first-ever investment-grade bonds to raise at least $20 billion for artificial intelligence projects and has signed a multibillion-dollar deal with Reflection AI for computing power.
Other giants like Alphabet and Amazon are also using bond sales to fuel their AI goals.