Space Exploration Technologies Corp (NASDAQ:SPCX) stock traded lower on Wednesday as risk appetite cools in growth-leaning names and traders rotate toward more defensive pockets of the market. The Nasdaq is down 0.31% while the S&P 500 has shed 0.13%.
SpaceX is drawing investor attention as it expands AI computing ambitions, prepares for a major share unlock, and works through key launch delays.
SpaceXAI Aims to Expand Computing Power
SpaceXAI is laying the groundwork for a large terrestrial data center in Texas as it looks to scale AI computing beyond its current Memphis hub. The company is evaluating sites for a facility expected to match or exceed 1 gigawatt of capacity, including new construction and potential warehouse retrofits, the Information reported on Wednesday.
SpaceX is also building an 11 million-square-foot "Gigasat" facility in Bastrop, Texas, to manufacture orbiting AI data centers. The project aims to use solar-powered space-based compute to reduce reliance on terrestrial power capacity.
Share Unlock Looms
SpaceX stock gained 3% Tuesday, ending a seven-day losing streak, after the company set Aug. 4 for its first earnings report following its record IPO.
That report will trigger part of SpaceX’s staggered lock-up schedule. Up to 911.5 million shares, or 20% of eligible locked-up stock, can become available for sale on Aug. 6. If the stock closes at least 30% above its IPO price for five of the 10 trading days before the report, another 10% could also be released, CNBC reported on Tuesday.
Launches And AI Deals Stay In Focus
SpaceX plans to launch a Falcon 9 rocket carrying 24 Starlink satellites after scrubbing the mission Monday, as per the report. The company also plans to launch Starship on Thursday after an engine ignition issue forced a prior abort.
Investors continue to watch Starship closely because it supports SpaceX’s Starlink expansion and NASA Artemis obligations. They are also tracking SpaceXAI’s cloud computing contracts with Alphabet Inc.‘s (NASDAQ:GOOGL), Google, along with Anthropic and Reflection, as well as reported talks to provide compute capacity to the Pentagon.
SPCX Stock Price Activity: SpaceX shares are trading down 0.39% at $123.06 at the time of publication on Wednesday, according to Benzinga Pro data.
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