Why is Space Exploration Technologies stock rallying today?

Elon Musk confirmed Tesla and SpaceX will build and operate the Terafab AI chip complex in Texas, with TSMC potentially subleasing part of the facility. Intel remains involved in the project. Details on TSMC's role are unclear.

Space Exploration Technologies (SpaceX) stock fell 1.9% in pre-market trading after reports it plans to raise $40 billion in debt to fund an Nvidia AI chip order, with Apollo Global Management leading the deal. Investors are concerned about the scale of borrowing, as first-half spending was $28.5 billion against $3.5 billion in operating cash. A 328.4 million share lock-up expiration is set for October 9, which may add selling pressure.

SpaceX (SPCX) stock fell 1.6% premarket after plans to raise $40B for Nvidia (NVDA) AI chips were reported. Apollo Global Management will lead the financing. Cathie Wood's ARK funds sold 54,873 shares. Analysts remain bullish, with Goldman Sachs and Morgan Stanley raising price targets to $230 and $300, respectively.

SpaceX (SPCX) shares fell 1.15% after-hours on 6 October 2026 following a report of a $40bn Nvidia chip deal for AI data-centre buildout, led by Apollo Global Management (APO). The deal, unconfirmed by SpaceX, Apollo, or Nvidia, includes $10bn in bank loans and $30bn in investment-grade debt. SpaceX reported a net loss of $541m for Q2 2026, narrowing from a $1.008bn loss a year earlier. The 10-year US Treasury yield stood at 5.31% on 5 October 2026.

SpaceX (SPCX) plans to raise $40B, led by Apollo, for Nvidia chip acquisition. The financing includes $10B in bank loans and $30B in debt, expected to close by 2027. SPCX trades at a P/S ratio of 180.62, above its historical median of 103.9x, reflecting high growth expectations despite unprofitability. Its GF Score™ is 15/100, indicating financial and operational challenges.

SpaceX (SPCX) completed Starship Flight 14 to low Earth orbit, deploying Starlink satellites. The company is in advanced talks with TSMC for custom AI chips and partnered with Beeline Kazakhstan for Direct to Cell services. SpaceX has a $2.3 trillion market cap and focuses on satellite broadband. Progress in Starship and AI chips supports infrastructure control, but regulatory and cash runway concerns persist.