SpaceX shares extended premarket losses, slipping as much as about 5% to roughly
$147 — below their IPO first-day open of $150 — putting the company's market
value on track to fall under $2 trillion. After three straight sessions of
declines, SpaceX has lost more than $600 billion of market value; Monday alone
erased about $400 billion, the second-largest single-day U.S. market-cap decline
on record after NVIDIA's roughly $590 billion drop last year. SpaceX said it
will issue investment-grade bonds, with the initial offering expected to raise
at least $20 billion, a move market participants view as the start of
large-scale financing for its AI ambitions. In recent months Alphabet, Amazon,
Meta Platforms and Oracle have raised hundreds of billions of dollars of debt
across multiple credit markets.
