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Space Exploration Technologies Corp 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 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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This article SpaceX Explores 1-Gigawatt Texas Data Center to Expand AI Computing originally appeared on Benzinga.com.
