Stock Market Update
07-Oct-26 10:55 ET
SpaceX lower on reports of $40 billion financing deal for NVIDIA chips
Dow -575.67
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[BRIEFING.COM] The major averages continue to drift lower.
SpaceX (SPCX 168.45, -3.47, -2.02%) has turned lower following a report from the Financial Times that the company is seeking $40 billion in financing to purchase NVIDIA (NVDA 237.18, -2.06, -0.86%) AI chips, highlighting the substantial capital requirements associated with its compute expansion. The proposed package reportedly includes roughly $10 billion in bank loans and $30 billion in investment-grade debt.
The financing plans are drawing added attention with the 10-year Treasury yield at 5.31%, as elevated borrowing costs could increase the expense associated with funding the buildout. The decline also follows a roughly 16% advance for SpaceX from October 1 through October 6, leaving the stock susceptible to some profit-taking as investors weigh the additional financial obligations against the potential returns from its expanding compute capacity.
