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Barchart
Pathikrit Bose

After a Nasty Post-IPO Selloff, SpaceX Looks to the Pentagon to Give SPCX Stock a Boost

SpaceX SPCX Pentagon Elon Musk IPO Alphabet Anthropic Google Tesla Inc. XAI

According to a report in The Wall Street Journal, the Pentagon is looking to source compute from SpaceX to run AI models. Not confirmed by either organization, the deal could be worth billions of dollars for SpaceX (SPCX) and deepen its ties with the government. Notably, the deal would be along similar lines to the ones the company has with the likes of Anthropic, Alphabet (GOOG) (GOOGL), and Reflection AI.

However, the news was not enough to arrest the decline in SPCX stock, which is down more than 25% since its listing, witnessing seven straight sessions of losses. Although today might break that trend, to some extent, as the stock is up about 7% in morning trading. The company's market cap now stands at $1.6 trillion.

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