SpaceX (NASDAQ: SPCX) stock price is in focus amid concerns that the company’s plan to raise $40 billion debt in debt is facing obstacles because of the ongoing AI selloff.
The stock dropped by 1.62% in the five trading days leading up to October 23, with this being a slight decline compared to the 3% and 4% dip posted by Nvidia and Micron stocks during the same period, respectively.
SpaceX’s $40B AI Debt Deal Faces Uncertainty
According to Bloomberg, SpaceX’s plan to raise $40 billion for AI financing is facing obstacles because of increased volatility in the credit market and a surge in borrowing costs.
As CoinGape reported earlier, the planned raise would go towards financing the purchase of Nvidia chips using a special purpose vehicle (SPV) so that the debt stays out of the company’s balance sheet.
However, the increased volatility in credit markets has made negotiations around borrowing costs challenging. Per Bloomberg, investors are currently reassessing the risks that come from financing large-scale AI infrastructure projects.
JPMorgan had also warned earlier that AI stocks might take longer to recover after the current AI selloff than they did in July.
SPCX in Talks For 80,000 Cell Sites
SpaceX recently reported its first profitable quarter as a public company after its Q3 2026 earnings revealed $0.35 in Earnings Per Share. The revenue also increased by 161% year-over-year.
Shortly after the earnings, reports emerged that SpaceX is seeking access to at least 80,000 cell sites to create a wireless carrier. The report triggered a decline in AT&T, Verizon, and T-Mobile shares.
The expansion into cell sites comes also comes after SpaceX acquired low-band spectrum to also advance its carrier services as we reported earlier.
SpaceX Stock Prediction as Price Slips Below Crucial Support
SpaceX’s one day chart shows that the stock has dropped below crucial support at the 61.8% Fib level after a surge in buying pressure.
If SPCX can overcome the resistance at this Fib level, an uptrend might resume, with the shares targeting the 78.6% Fib at $161.
The MACD line has slipped below the zero line to suggest that the bearish momentum is gaining strength. However, the positive AO bars suggest that bears are losing their grip after the recent downtrend.
The fading bearish momentum comes after JPMorgan nearly doubled its target for SPCX shares from $240 to $500.
However, if the AI selloff continues to weigh on the shares, SpaceX stock price might drop to the 38.2% Fib of $132.
