On October 8, SpaceX fell 3.02% in regular trading, trading at $166.7/share, with turnover of $7.619 billion.
The decline followed reports that SpaceX is seeking $40 billion in financing to purchase Nvidia chips, a move that has sparked investor concerns over the company's rising leverage. According to reports, the financing plan includes approximately $10 billion in bank loans and $30 billion in investment-grade bonds, with closing expected in 2027. While SpaceX holds a BBB investment-grade rating allowing insurers and pension funds to purchase its debt, uncertainty around the payback period for AI infrastructure spending and the scale of the debt expansion weighed on its bonds in the secondary market. Notably, several institutions remain bullish on the name, with Goldman Sachs issuing a Buy rating and a $230 target price, and Morgan Stanley reiterating an Overweight rating with a $300 target.
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