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Wajeeh Khan

A $40 Billion Reason Why SPCX Stock Is Down Today

SPCX SpaceX Cathie Wood

SpaceX (SPCX) stock opened in the red this morning following reports that the space and artificial intelligence (AI) giant plans to issue about $40 billion in new debt. The company plans on using the fresh capital to acquire AI compute hardware, specifically Nvidia (NVDA) GPUs for its expanding data center footprint, the reports added.

While SpaceX shares have staged an exciting comeback in recent months, they’re still down about 15% versus their year-to-date high.

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