News & Updates
The latest news and updates from companies in the WLTH portfolio.
SpaceX Starship launch scrubbed moments before blastoff
The test flight was aborted after some of the rockets engines failed to start, Elon Musk has said The 13th test flight of SpaceX's Starship ended abruptly after an engine malfunction forced an automatic launch abort seconds before liftoff on Thursday. Alive streamfrom the Starbase launch site in Texas showed clouds of smoke and vapor billowing from the rocket as its engines ignited. However, Starship failed to leave the pad. "We did trigger a hold on the booster that aborted our liftoff as we were starting to light those Raptor engines," SpaceX spokesperson Dan Huot said during the webcast. SpaceX CEO Elon Musk laterconfirmedon X that "some of the engines didn't start, triggering an automatic launch abort." "Next launch attempt hopefully in a few days," he added. width="560" height="315" src="https://mf.b37mrtl.ru/files/2026.07/6a5a582b85f54001fc46cf2e.mp4" frameborder="0" > The mission was set to deploy 20 of the latest Version 3 Starlink satellites into orbit. The aborted launch follows several upgrades made after Starship's previous test flight in May, when a simulated landing of the Super Heavy V3 booster in the Gulf of Mexico ended in an explosion. The upper-stage Starship also broke apart after splashing down in the Indian Ocean, although SpaceX still declared the mission a success. The latest setback sent SpaceX shares down to $131.11 early on Friday, leaving them below the company's IPO price of $135. The stock had already slipped to $132.28 on Wednesday amid growing investor concerns over whether the company can generate enough profit to justify its trillion-dollar valuation. SpaceX went public last month in a record $75 billion offering that briefly made Musk the world's first trillionaire. The company is competing with Jeff Bezos' Blue Origin to build lunar landers for NASA's Artemis program, which aims to return astronauts to the Moon by landing near its south pole. Earlier this week, Russia successfully launched a Soyuz-2.1a rocket from the Baikonur Cosmodrome in Kazakhstan, carrying Russian cosmonauts Pyotr Dubrov and Anna Kikina, along with NASA astronaut Anil Menon, to the International Space Station.
SpaceX Starship launch scrubbed moments before blastoff
The test flight was aborted after some of the rockets engines failed to start, Elon Musk has said The 13th test flight of SpaceX's Starship ended abruptly after an engine malfunction forced an automatic launch abort seconds before liftoff on Thursday. Alive streamfrom the Starbase launch site in Texas showed clouds of smoke and vapor billowing from the rocket as its engines ignited. However, Starship failed to leave the pad. "We did trigger a hold on the booster that aborted our liftoff as we were starting to light those Raptor engines," SpaceX spokesperson Dan Huot said during the webcast. SpaceX CEO Elon Musk laterconfirmedon X that "some of the engines didn't start, triggering an automatic launch abort." "Next launch attempt hopefully in a few days," he added. width="560" height="315" src="https://mf.b37mrtl.ru/files/2026.07/6a5a582b85f54001fc46cf2e.mp4" frameborder="0" > The mission was set to deploy 20 of the latest Version 3 Starlink satellites into orbit. The aborted launch follows several upgrades made after Starship's previous test flight in May, when a simulated landing of the Super Heavy V3 booster in the Gulf of Mexico ended in an explosion. The upper-stage Starship also broke apart after splashing down in the Indian Ocean, although SpaceX still declared the mission a success. The latest setback sent SpaceX shares down to $131.11 early on Friday, leaving them below the company's IPO price of $135. The stock had already slipped to $132.28 on Wednesday amid growing investor concerns over whether the company can generate enough profit to justify its trillion-dollar valuation. SpaceX went public last month in a record $75 billion offering that briefly made Musk the world's first trillionaire. The company is competing with Jeff Bezos' Blue Origin to build lunar landers for NASA's Artemis program, which aims to return astronauts to the Moon by landing near its south pole. Earlier this week, Russia successfully launched a Soyuz-2.1a rocket from the Baikonur Cosmodrome in Kazakhstan, carrying Russian cosmonauts Pyotr Dubrov and Anna Kikina, along with NASA astronaut Anil Menon, to the International Space Station.
SpaceX Starship launch scrubbed moments before blastoff
The test flight was aborted after some of the rockets engines failed to start, Elon Musk has said The 13th test flight of SpaceX's Starship ended abruptly after an engine malfunction forced an automatic launch abort seconds before liftoff on Thursday. Alive streamfrom the Starbase launch site in Texas showed clouds of smoke and vapor billowing from the rocket as its engines ignited. However, Starship failed to leave the pad. "We did trigger a hold on the booster that aborted our liftoff as we were starting to light those Raptor engines," SpaceX spokesperson Dan Huot said during the webcast. SpaceX CEO Elon Musk laterconfirmedon X that "some of the engines didn't start, triggering an automatic launch abort." "Next launch attempt hopefully in a few days," he added. width="560" height="315" src="https://mf.b37mrtl.ru/files/2026.07/6a5a582b85f54001fc46cf2e.mp4" frameborder="0" > The mission was set to deploy 20 of the latest Version 3 Starlink satellites into orbit. The aborted launch follows several upgrades made after Starship's previous test flight in May, when a simulated landing of the Super Heavy V3 booster in the Gulf of Mexico ended in an explosion. The upper-stage Starship also broke apart after splashing down in the Indian Ocean, although SpaceX still declared the mission a success. The latest setback sent SpaceX shares down to $131.11 early on Friday, leaving them below the company's IPO price of $135. The stock had already slipped to $132.28 on Wednesday amid growing investor concerns over whether the company can generate enough profit to justify its trillion-dollar valuation. SpaceX went public last month in a record $75 billion offering that briefly made Musk the world's first trillionaire. The company is competing with Jeff Bezos' Blue Origin to build lunar landers for NASA's Artemis program, which aims to return astronauts to the Moon by landing near its south pole. Earlier this week, Russia successfully launched a Soyuz-2.1a rocket from the Baikonur Cosmodrome in Kazakhstan, carrying Russian cosmonauts Pyotr Dubrov and Anna Kikina, along with NASA astronaut Anil Menon, to the International Space Station.
Elon Musk Isn't a Trillionaire Anymore, Says Forbes -- SpaceX Stock Dropped After Aborted Launch
The world's first trillionaire is back to slumming it among the billionaires, according to a report by Forbes. That's right. Elon Musk saw his net worth drop back to a mere twelve digits after the SpaceX stock price took a tumble after the latest failed Starship launch attempt, reported Forbes' Ty Roush on Friday. Musk became the world's first trillionaire last month after SpaceX went public in the largest initial public offering in history. He holds 4.8 billion shares of SpaceX, plus another 350 million stock options, and about 700 million shares of Tesla. The SpaceX IPO price was $135 and the stock saw a spike in the days that followed but has since been on a downward trend. On Monday, Forbes reported that SpaceX shares had declined 3.8% to just under $140 by the afternoon and Tesla shares saw a similar 3% drop. Friday, SpaceX was down to $124 at the end of the day and at the end of "a five-day losing streak for the stock," wrote Roush. These stock price hits dragged Musk's net worth down billions of dollars, Roush reported. Forbes calculates Musk's peak net worth as $1.45 trillion on June 16, when SpaceX shares hit the stock's all-time high. Since then, the former DOGE chief has lost nearly $700 billion and is now worth $792.8 billion. That's enough to buy nearly eight million of the "Cyberbeast" model of the 2026 Tesla Cybertruck. (7,773,692 Cybertrucks to be precise, with a base model price of $101,985). Musk posted about the "automatic launch abort" for the latest Starship attempt on Thursday evening, posting on the X platform he owns that it was caused when "[s]ome of the engines didn't start." He added that another attempt would be made "hopefully in a few days," and that the "most probable launch timing is early next week." Musk may no longer be a trillionaire, but Forbes still ranks him as the richest person in the world, more than doubling his nearest competitors, Google co-founders Larry Page and Sergey Brin, worth $282 billion and $260.1 billion respectively. New: The Mediaite One-Sheet "Newsletter of Newsletters" Your daily summary and analysis of what the many, many media newsletters are saying and reporting. Subscribe now!
Anthropic, Meta reportedly discussing $10B data center leasing deal
Anthropic PBC is reportedly seeking to lease some of Meta Platforms Inc.'s data center capacity. The New York Times today cited three sources as saying that the deal could be worth $10 billion over two years. However, the report noted that the companies' discussions are at an early stage and could fall through. The idea of a data center lease was reportedly floated by Anthropic in June. According to the Times, the company is seeking terms that would give it the option to cancel the contract early. The artificial intelligence developer added a similar clause to its recently signed infrastructure deal with SpaceX Corp. Anthropic will pay $1.25 billion per month to use the rocket maker's Colossus 1 and Colossus 2 supercomputers. The contract is structured as a 180-day lease, but both companies can end it early with a 90-day notice. Shortly after signing the SpaceX deal, Anthropic raised the rate limits of its application programming interface and Claude Code. A contract with Meta could be followed by a similar increase. However, any rate limit boost would likely be smaller given that lease is worth $416 million per month, or a third of what Anthropic is paying SpaceX. Today's report didn't specify what Meta hardware the AI developer hopes to use. Some of the Facebook parent's servers contain Nvidia Corp. chips while others use the MTIA 400, a custom accelerator that debuted in March. Anthropic is more likely to pick the former option. Its workloads are already compatible with Nvidia chips and adapting AI workloads to Meta's silicon would involve a significant amount of work. Leasing AI chips to other companies could help Meta recoup some of its heavy infrastructure spending. This week, the Facebook parent committed more than $50 billion to a data center campus in Louisiana. The sprawling development spans 3,650 acres and will be supported by 10 power plants. Meta faces heavy competition in the AI infrastructure market. Buyers can choose among the offerings of not only the industry's top cloud providers and SpaceX but also numerous well-funded data center startups. In theory, signing up a high-profile customer such as Anthropic could make it easier for Meta to stand out. The companies' lease discussions are particularly notable because they compete with each other in the large language model market. Last week, Meta debuted an LLM called Muse Spark 1.1 that is optimized for programming tasks. The company plans to sell access to the model through an API that will cost 75% less than Claude.
Elon Musk Isn't a Trillionaire Anymore, Says Forbes -- SpaceX Stock Dropped After Aborted Launch
The world's first trillionaire is back to slumming it among the billionaires, according to a report by Forbes. That's right. Elon Musk saw his net worth drop back to a mere twelve digits after the SpaceX stock price took a tumble after the latest failed Starship launch attempt, reported Forbes' Ty Roush on Friday. Musk became the world's first trillionaire last month after SpaceX went public in the largest initial public offering in history. He holds 4.8 billion shares of SpaceX, plus another 350 million stock options, and about 700 million shares of Tesla. The SpaceX IPO price was $135 and the stock saw a spike in the days that followed but has since been on a downward trend. On Monday, Forbes reported that SpaceX shares had declined 3.8% to just under $140 by the afternoon and Tesla shares saw a similar 3% drop. Friday, SpaceX was down to $124 at the end of the day and at the end of "a five-day losing streak for the stock," wrote Roush. These stock price hits dragged Musk's net worth down billions of dollars, Roush reported. Forbes calculates Musk's peak net worth as $1.45 trillion on June 16, when SpaceX shares hit the stock's all-time high. Since then, the former DOGE chief has lost nearly $700 billion and is now worth $792.8 billion. That's enough to buy nearly eight million of the "Cyberbeast" model of the 2026 Tesla Cybertruck. (7,773,692 Cybertrucks to be precise, with a base model price of $101,985). Musk posted about the "automatic launch abort" for the latest Starship attempt on Thursday evening, posting on the X platform he owns that it was caused when "[s]ome of the engines didn't start." He added that another attempt would be made "hopefully in a few days," and that the "most probable launch timing is early next week." Musk may no longer be a trillionaire, but Forbes still ranks him as the richest person in the world, more than doubling his nearest competitors, Google co-founders Larry Page and Sergey Brin, worth $282 billion and $260.1 billion respectively. The post Elon Musk Isn't a Trillionaire Anymore, Says Forbes -- SpaceX Stock Dropped After Aborted Launch first appeared on Mediaite.
Elon Musk's SpaceX Won't Turn Profitable Until 2027, Analyst Says: 'Still Not Sure What People See...'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The Future Fund LLC's Gary Black renewed his skepticism toward Space Exploration Technologies Corp. early Wednesday after the stock's recent pullback and said the company's valuation and upcoming share unlocks leave little room for upside. Black Says Valuation Still Doesn't Add Up "It's already a megacap ($1.8T market cap) so upside is limited," Black said in a post on X, adding that SpaceX is not expected to turn profitable until 2027 despite trading at about 47 times projected 2026 enterprise value-to-revenue and 110 times value-to-EBITDA. Black shared a Bloomberg News report that said SpaceX shares had fallen to within $1 of their $135 IPO price after giving up roughly one-third of their post-listing gains. SpaceX is expected to unlock about 20% of its eligible pre-IPO shares after second-quarter earnings next month, with roughly 44% becoming eligible for sale by early September. Black said the staggered releases would increase the tradable float by about 900%, adding that "valuation has to matter at some point." After reaching a record high of $225.64 on June 16, the company's stock has now retreated roughly 40%. Still not sure what people see in $SPCX as an investment. It's already a megacap ($1.8T market cap) so upside is limited. It won't generate profits until 2027. It trades at 2026 EV/Rev of 47x ( $TSLA 14x), and 2026 EV/EBITDA of 110x ( $TSLA 97x). I get the TAM story once other... pic.twitter.com/QQO8bn0vVh -- Gary Black (@garyblack00) July 15, 2026 Veteran market strategist George Noble, a former Peter Lynch protégé, said the lockup schedule, and not the company's valuation, is the biggest near-term risk for the stock. Trending: Avoid the #1 Investing Mistake: How Your 'Safe' Holdings Could Be Costing You Big Time Chamath Makes the Bull Case Speaking on CNBC, venture capitalist Chamath Palihapitiya called SpaceX "an incredible company," having backed the business since its early years and continuing to believe in Elon Musk's long-term vision. "I think it's an incredible company," says @chamath of $SPCX. "I really believe in Elon." https://t.co/LiK7oIIGYr pic.twitter.com/1BcXDhSyNu -- Squawk Box (@SquawkCNBC) July 14, 2026 Palihapitiya said investors may be underestimating the strategic benefits of potentially combining SpaceX and Tesla Inc under a single capital structure, as he believes a unified balance sheet could make it easier to fund Musk's broader portfolio of businesses.
SpaceX Stock Falls Below IPO Price, Market Cap Plummets $1 Trillion
Bond issuance, Starship test suspension, and upcoming earnings report fuel investor concerns The stock price of U.S. aerospace and artificial intelligence (AI) company **SpaceX**, which made its debut on the New York Stock Exchange last month through the largest-ever initial public offering (IPO), has significantly declined, with its market capitalization falling below the offering price within a month. On the 17th (local time), SpaceX's stock price on the New York Stock Exchange closed at $123.99, down 5.43% from the previous day. With a six-consecutive-day decline, the market capitalization shrank to $1.6316 trillion. This is a decrease of $1 trillion (approximately 1,490 trillion Korean won) from the record high of $2.64 trillion set on June 16. SpaceX raised a total of $85.7 billion (approximately 130 trillion Korean won) through the largest-ever IPO on June 10. Following oversubscription, the stock price surged immediately after listing as investor expectations grew, but recent adverse factors have caused the stock price to fall below the offering price of $135. On June 23, the company issued $25 billion in corporate bonds to repay debt, and concerns over AI infrastructure investments have intensified, leading to a downward trend in the stock price. Additionally, the sudden suspension of the 13th test flight of Starship, SpaceX's next-generation core spacecraft and the first test flight since the company's listing, on July 16 further fueled the decline. Starship is a 124-meter-tall super-heavy launch vehicle developed by SpaceX. **Elon Musk**, the CEO of SpaceX, dreams of using Starship to transport people and cargo to Mars. The disclosure of SpaceX's first earnings report in early August is also seen as a negative factor. This is because the lock-up period for a significant portion of institutional holdings in SpaceX will be lifted starting two trading days after the earnings announcement. The release of a large volume of shares into the market could drive the stock price further down.
SpaceX Starlink in Talks with Iraq over Satellite Internet Services
Iraq's Ministry of Trade has held discussions with representatives of SpaceX, including its Starlink satellite internet team, during meetings in Washington. Minister of Trade Mustafa Nizar Jumaa said the talks focused on potential cooperation in satellite internet services, digital infrastructure, and e-government platforms. He indicated that Starlink's technology could support Iraq's digital transformation agenda and improve connectivity in remote areas. The minister also raised the possibility of strategic partnerships between SpaceX and Iraq's public and private sectors, covering technology transfer and training programmes for Iraqi professionals. (Source: Iraqi Ministry of Trade)
SpaceX Starship launch scrubbed moments before blastoff
The test flight was aborted after some of the rockets engines failed to start, Elon Musk has said The 13th test flight of SpaceX's Starship ended abruptly after an engine malfunction forced an automatic launch abort seconds before liftoff on Thursday. Alive streamfrom the Starbase launch site in Texas showed clouds of smoke and vapor billowing from the rocket as its engines ignited. However, Starship failed to leave the pad. "We did trigger a hold on the booster that aborted our liftoff as we were starting to light those Raptor engines," SpaceX spokesperson Dan Huot said during the webcast. SpaceX CEO Elon Musk laterconfirmedon X that "some of the engines didn't start, triggering an automatic launch abort." "Next launch attempt hopefully in a few days," he added. width="560" height="315" src="https://mf.b37mrtl.ru/files/2026.07/6a5a582b85f54001fc46cf2e.mp4" frameborder="0" > The mission was set to deploy 20 of the latest Version 3 Starlink satellites into orbit. The aborted launch follows several upgrades made after Starship's previous test flight in May, when a simulated landing of the Super Heavy V3 booster in the Gulf of Mexico ended in an explosion. The upper-stage Starship also broke apart after splashing down in the Indian Ocean, although SpaceX still declared the mission a success. The latest setback sent SpaceX shares down to $131.11 early on Friday, leaving them below the company's IPO price of $135. The stock had already slipped to $132.28 on Wednesday amid growing investor concerns over whether the company can generate enough profit to justify its trillion-dollar valuation. SpaceX went public last month in a record $75 billion offering that briefly made Musk the world's first trillionaire. The company is competing with Jeff Bezos' Blue Origin to build lunar landers for NASA's Artemis program, which aims to return astronauts to the Moon by landing near its south pole. Earlier this week, Russia successfully launched a Soyuz-2.1a rocket from the Baikonur Cosmodrome in Kazakhstan, carrying Russian cosmonauts Pyotr Dubrov and Anna Kikina, along with NASA astronaut Anil Menon, to the International Space Station.
SpaceX's Magic Number Is $135. Here's How to Profit Now as SPCX Stock Breaks Below It.
For SpaceX (SPCX), which came public in a storm of enthusiasm just five weeks ago, the $135 mark means everything. With the stock dripping below that mark this week, America's heroic IPO is falling like a rocket returning to earth. More News from Barchart The initial public offering market was supposed to find its ultimate savior in SpaecX. When Elon Musk aggressively tore up the traditional Wall Street playbook and fixed the company's landmark IPO price at exactly $135 per share, it was designed to be a historic victory lap. Raising a record-shattering $75 billion at an astronomical $1.75 trillion valuation, the offering was pitched to investors of all types as an elite, dual-threat bet on satellite dominance and space-based AI infrastructure. I cannot ever recall an IPO that had social media ads promoting it before an official filing. Now, just weeks into public trading, that $135 price tag is looking less like a launchpad and more like a psychological ceiling. After staging a brief initial pop and peaking at $225 shortly after its debut, the stock has relentlessly drifted right back down, closing Wednesday a clean $90 under that all-time high. The problem with $135 isn't a failure of rocket telemetry or a slowdown in Starlink subscriptions. The problem is the staggering valuation multiple built into that specific dollar figure. At $135 a share, SpaceX trades at a whopping 94x times its trailing price-revenue ratio. To be clear, this is a late-cycle tech tape, where corporate spending shifts are suddenly inducing massive air pockets -- as we just witnessed firsthand with International Business Machine's (IBM) historic collapse -- Wall Street portfolio managers are showing more signs daily that they're too shy to hold assets priced for perfection. The appetite for risk is shrinking. Furthermore, because early index inclusion rules forced automated Nasdaq index funds to programmatically buy billions of dollars of the float right after the debut, that initial demand is completely exhausted. This decline in SPCX stock is despite that artificial temporary demand. With no new passive buying waves on the horizon, and lockup periods ending later this summer, $135 has become a big time challenge for SPCX bulls. If the stock breaks cleanly below this original IPO floor, it could prompt an avalanche of retail stop-loss liquidations.
Cathie Wood's ARK sells AMD stock, buys SpaceX shares By Investing.com
Cathie Wood's ARK ETF published their daily trades for Friday, July 17th, 2026, revealing a significant shift in their investment portfolio. The most notable transaction was the purchase of 147,805 shares of Space Exploration Technologies Corp (SPCX) across several of its ETFs, with a total dollar value of $19,378,713. This marks a continued interest in SpaceX, following substantial investments in the company over the past week. On the selling side, ARK offloaded 23,573 shares of Advanced Micro Devices Inc (NASDAQ:AMD), totaling $11,808,658. This sale was distributed across four of ARK's ETFs, indicating a strategic decision to reduce exposure to AMD. Another major transaction included the purchase of 115,827 shares of CoreWeave Inc (CRWV) for $8,444,946, suggesting ARK's growing confidence in this company. In contrast, ARK sold 79,220 shares of Robinhood Markets Inc (NASDAQ:HOOD) for $8,398,904, continuing a trend of decreasing its position in the stock over recent days. ARK also made a significant investment in Kratos Defense and Security Solutions Inc (NASDAQ:KTOS), purchasing 115,812 shares valued at $5,438,531. The ETF's interest in defense and technology stocks is evident with these acquisitions. Additionally, ARK purchased 37,077 shares of AeroVironment Inc (NASDAQ:AVAV) for $5,535,225, while selling 144,634 shares of Iridium Communications Inc (NASDAQ:IRDM) for $6,741,390, indicating a shift within the communications and aerospace sectors. Other notable transactions included the sale of 5,781 shares of Deere & Co (NYSE:DE) for $3,462,645 and the purchase of 7,975 shares of Intuitive Surgical Inc (NASDAQ:ISRG) for $3,208,581, reflecting ARK's ongoing adjustments in its industrial and healthcare portfolios. Smaller trades involved the purchase of 32,861 shares of WeRide Inc (WRD) for $202,095 and the sale of 11,1013 shares of 10X Genomics Inc (NASDAQ:TXG) for $4,937,858, showcasing ARK's diverse investment strategy. Overall, today's trades highlight Cathie Wood's ARK ETF's strategic repositioning across various sectors, with a notable emphasis on technology and aerospace investments. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Cathie Wood Buys the Dip in Beaten-Down SpaceX Stock. Analysts See 86% Upside Ahead
SpaceX (SPCX) has quickly gone from Wall Street's hottest IPO to one of its biggest debates. After soaring more than 67% above its $135 IPO price shortly after listing in June, the stock has pulled back sharply and recently slipped below that offering price for the first time. There, Cathie Wood saw an opportunity and rushed in to buy the dip. ARK Invest founder bought another $16.7 million worth of SPCX shares as the stock traded below its IPO price, adding to more than $50 million of purchases earlier this month. More News from Barchart Cathie Wood Buys the SpaceX Dip ARK Invest, led by the famously bullish tech investor, purchased approximately $16.6 million to $16.7 million worth of SPCX stock on Wednesday, July 15. Four ARK funds participated in the purchase, including the flagship ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Space & Defense Innovation ETF (ARKX), buying about 123,000 shares total. The purchase made SpaceX the sixth-largest holding in ARKK. It wasn't an isolated move. Wood has been aggressively accumulating SpaceX shares throughout July. The week ending July 10 alone saw ARK Invest purchase roughly $52.1 million worth of SPCX. On July 13, the firm added another $21.3 million. By July 15, total weekly purchases had surpassed $36 million across multiple funds. It is pretty clear from these massive transactions that Wood has been an aggressive buyer of SpaceX. Why SPCX Stock Has Fallen Below Its IPO Price SPCX stock is down roughly 44% below its post-IPO peak and beneath its IPO price right now. Several factors have weighed on the shares. Investors have become increasingly concerned about the company's aggressive AI spending following its acquisition of xAI, while expectations for continued heavy capital expenditures have pressured sentiment. The market is also looking ahead to an August lockup expiration that could release roughly 20% of outstanding shares for trading, creating potential selling pressure. Despite the recent weakness, Cathie Wood has continued buying throughout the decline rather than trimming her position. Even after the recent selloff, SpaceX remains one of the market's most expensive large-cap growth stocks.
Elon Musk's SpaceX In Talks To Provide Computing Power To Pentagon: Report
Discussions between SpaceX and the Pentagon are ongoing and could still fall apart, WSJ reported. Elon Musk's SpaceX is in talks to provide the US Department of Defense with access to data center capacity worth billions of dollars to run AI models, the Wall Street Journal reported on Friday, citing people familiar with the matter. Such an agreement would extend the Pentagon's existing relationship with SpaceX, a key partner for rocket launches and satellite-based communications and missile tracking. According to the report, SpaceX employees have discussed plans to compete more directly with neocloud firms such as CoreWeave by selling computing capacity to AI customers at lower prices. Like many large enterprises, the Defense Department is moving to secure additional cloud-computing capacity to support intelligence agencies and military AI applications. Amazon said late last year it would invest up to $50 billion to expand AI and supercomputing capacity for U.S. government customers through its Amazon Web Services cloud business. Discussions between SpaceX and the Pentagon are ongoing and could still fall apart, WSJ reported. SpaceX and the Pentagon did not immediately respond to Reuters requests for comment. Reuters could not independently verify the report. The space firm has made similar deals in recent months. In June, SpaceX signed a multi-year cloud services agreement with Alphabet's Google, providing access to about 110,000 Nvidia chips and related computing infrastructure. Anthropic said in May it had struck a deal to use the full computing power of SpaceX's Colossus 1 facility in Memphis, gaining 300 megawatts of new capacity. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) How may i help you today Show full article Track Latest News Live on NDTV.com and get news updates from India and around the world
SPCX Stock Keeps Falling: Gary Black Says SpaceX Still Looks Ridiculously Overvalued -- 'Don't Say I Didn't Warn You'
* Gary Black adds that investors ignored clear warning signs despite extensive scrutiny of SpaceX's business plans and financials. * He claims the IPO was structured to create a supply-demand imbalance that inflated SpaceX's market value and benefited bankers. * Black questions Wall Street's bullish stance, noting that only Morningstar has a 'sell' rating on the stock despite its steep decline. Future Fund Managing Director Gary Black weighed in on SpaceX's recent decline after shares of the newly public company cooled off in a big way from their post-IPO highs. SpaceX stock (SPCX) ended Friday's session 5.43% down at $123.60. This was about 9% below its $135 initial public offering (IPO) price and down around 45% from its all-time intraday high of $225.64. See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox Gary Black On SpaceX's Post-IPO Drop In a post on X, Future Fund Managing Director Gary Black said, "Don't say I didn't warn you," stating that SPCX stock's decline validated his long-standing concerns over its valuation and IPO structure. He added that the stock still trades at "FY'2026 EV/Revs of 45x." Black invoked legendary investor Peter Lynch's long-held skepticism toward IPOs, saying Lynch believed IPO stood for "it's probably overpriced." He stated that SpaceX's "totally unproven plans to build data centres in space" were thoroughly examined before the listing, while its prospectus outlined what he described as a "ridiculous total addressable market" of $28.5 trillion. Black also noted that the company's losses "were disclosed and discussed," adding that there "may not have been an IPO in world history as closely scrutinised as this one." According to Black, investors who still chose to buy despite the risks "deserved what they got." Gary Black Criticizes IPO Structure And Wall Street Support Black said that the decline cannot be viewed in isolation because it "ignores the cynical way" SpaceX, its investment bankers, and advisers structured the IPO "to engineer short-term gain" and create "a $US500 billion fee pool." Black said the $85 billion IPO -- "3x the size of the next largest IPO in history" -- created a "highly imbalanced supply/demand situation," with a free float of less than $100 billion supporting more than $2 trillion in paper market value. Despite the stock's decline, he maintained that SpaceX "still looks ridiculously overvalued at 45x 2026 EV/Revs," while noting that most Wall Street analysts covering the stock have 'Buy' ratings and "only one -- Morningstar... has a sell rating." Black ended his post, saying, "That says it all."
Musk's SpaceX in talks to supply the Pentagon with computing power, WSJ reports
July 17 (Reuters) - Elon Musk's SpaceX is in talks to providethe U.S. Department of Defense with access to data center capacity worth billions of dollars to run AI models, the Wall Street Journal reported on Friday, citing people familiar with the matter. Such an agreement would extend the Pentagon's existing relationship with SpaceX, a key partner for rocket launches and satellite-based communications and missile tracking. According to the report, SpaceX employees have discussed plans to compete more directly with neocloud firms such as CoreWeave by selling computing capacityto AI customers at lower prices. Like many large enterprises, the Defense Department is moving to secure additional cloud-computing capacity to support intelligence agencies and military AI applications. Amazon said late last year it would invest up to $50 billion to expand AI and supercomputing capacity for U.S. government customers through its Amazon Web Services cloud business. Discussions between SpaceX and the Pentagon are ongoing and could still fall apart, WSJ reported. SpaceX and the Pentagon did not immediately respond to Reuters requests for comment. Reuters could not independently verify the report. The space firm has made similar deals in recent months. In June, SpaceX signed a multi-year cloud services agreement with Alphabet's Google, providing access to about 110,000 Nvidia chips and related computing infrastructure. Anthropic said in May it had struck a deal to use the full computing power of SpaceX's Colossus 1 facility in Memphis, gaining 300 megawatts of new capacity. (Reporting by Anhata Rooprai in Bengaluru; Editing by Pooja Desai)
Meta in talks to rent some of its billions in AI infrastructure to Anthropic
New York -- Meta is in talks with Anthropic about leasing computing capacity to the AI startup. It's a move that could put the social media giant in competition with Amazon, Microsoft and Google in a new line of business: cloud computing. The conversation about a potential deal is still early, a source familiar with the matter confirmed to CNN. The talks were first reported by the New York Times, which pegged the deal's worth at as much as US$10 billion over two years, citing three people with knowledge of the discussions. CNN's source said any specific numbers that have been reported are speculative. Meta and Anthropic declined to comment on the talks. Becoming a computing provider could mark a major new revenue opportunity for Meta as it's been investing heavily in data centre infrastructure to support its AI ambitions. The social media giant plans to spend between $125 billion and $145 billion in capital expenditures this year, largely to support that infrastructure buildout, Meta said in its most recent earnings report. That could double what it spent the prior year. Meta said in April that it would lay off 10 per cent of its workforce, about 8,000 people, in part to offset the cost of those investments. Meta CEO Mark Zuckerberg has mentioned the possibility of leasing out some of that infrastructure if his own company's computing needs didn't keep pace with the buildout. "Almost every week there are different companies that come to us from outside asking us ... if we have compute that they could buy from us at some premium to what we've bought it at," Zuckerberg said at Meta's annual shareholder meeting in May. "We haven't done that yet because we think that we have a use for the compute. But obviously if we get to a point where we feel that we have overbuilt, then that is an option that we have." There's no shortage of demand for computing power as companies large and small race to adopt AI and major AI labs work to improve their models. Anthropic already has multibillion dollar compute licensing deals with Google, SpaceX, Microsoft and Amazon. Meanwhile, investors want Meta to show how its investments will benefit its bottom line, especially as it scrambles to keep pace with AI offerings from companies like Anthropic and OpenAI. Meta shares are down more than eight per cent from this time last year. Meta last month released an upgraded version of its Muse Spark AI model that it said could rival the coding capabilities of models from OpenAI, Anthropic and others. For the first time, Meta said it would offer a paid version of the service, yet another sign it's looking for bigger returns on AI.
Dow Jones Top Company Headlines at 7 PM ET: Walmart Further Shuffles Top Executives | SpaceX ...
Walmart Further Shuffles Top Executives Kieran Shanahan, chief operating officer for Walmart U.S., will leave this week. ---- SpaceX in Talks to Provide Computing Power for Pentagon's AI Push Elon Musk's company would provide billions of dollars' worth of data-center capacity under the arrangement, people familiar with the matter said. ---- Nvidia, Challenged by Apple, Narrowly Retains Wall Street's Crown The iPhone maker briefly became the U.S.'s most valuable publicly traded company on Friday. ---- China's Moonshot AI Releases Model to Challenge Top U.S. Systems The company says its model outperforms some cutting-edge U.S. systems, the latest sign that Chinese labs can rival American counterparts. ---- Taylor Farms Is Recalling Its Mexican-Grown Iceberg Lettuce From U.S. U.S. authorities have linked the lettuce to a parasitic outbreak across more than 30 states. ---- Travelers Scored an Earnings Beat. Were the Downgrades All Wrong? The insurer defied Wall Street's expectations, posting adjusted per-share earnings that were nearly double of what analysts projected. ---- Fifth Third Profit Boosted by Comerica Acquisition The Fifth Third Bank parent posted a profit of $763 million, or 83 cents a share, in the second quarter. ---- Truist Financial Earnings Beat Estimates but Eyes Are on Bank's Next Chapter Truist Financial delivered strong second-quarter earnings Friday, but investors may be more focused on what the leadership transition to incoming CEO Michael Lyons could mean for the bank's strategy. ---- GSK Shares Slide After Drugmaker Drops Chronic Cough Treatment GSK shares fell after the U.K. drugmaker said it would stop working on an experimental treatment for chronic cough after mixed results showed limited efficacy in late-stage clinical studies. ---- Volvo Car Expects Sales to Strengthen on European Growth, U.S. Recovery Volvo Car expects growth in Europe and a recovery in the U.S. to spur significantly stronger sales in the second half of the year, despite continued challenges in China. ---- Meta Plans to Hire Top Amazon Computing Executive as It Weighs Cloud Push Dave Brown, one of the most senior executives at Amazon Web Services, will bring his nearly two decades of experience to the social-media giant. ---- Burberry Reports Sales Growth as It Moves Forward With Turnaround Plan Burberry posted flat sales growth for its first quarter, but noted that it saw growth across divisions for the first time in three years. ---- Verizon to Cut About 3,000 Jobs, Divest Itself of Some Retail Stores The company plans to divest itself of 274 of its retail stores to franchise owners. Most of Verizon's layoffs would come from the retail-store divestiture. ---- Databricks Set to Hit $188 Billion Valuation With New Investment From Coatue The startup's valuation jumps 40% as the AI boom has driven demand for its data-analytics software. ---- Sweden's EQT Expects Strong Fundraising Momentum as It Posts Higher Net Profit The buyout group reported rises in net profit and revenue for the first half aided by higher fee-generating assets. (END) Dow Jones Newswires July 17, 2026 19:15 ET (23:15 GMT) Copyright (c) 2026 Dow Jones & Company, Inc.
SpaceX postponed a crucial launch - and its stock went on to close below IPO price for a second day
SpaceX's planned 13th Starship V3 rocket launch was scrubbed during its 90-minute window. Shares in SpaceX fell further below their initial-public-offering price Friday after the spacecraft manufacturer aborted an attempt to launch its Starship rocket. The Texas-headquartered company's stock (SPCX) fell more than 5% on Friday, on the heels of a 3% slide on Thursday, bringing its price more than $10 below where it launched on the Nasdaq on June 12. The stock is has lost steam for five days in a row. SpaceX shares ended at $131.11 a share on Thursday, closing below the $135-per-share IPO price for the first time. SpaceX had been set to execute its first launch since the IPO on Thursday, with a Starship take-off scrapped after its launch window opened at 6:45 p.m. Eastern time. CEO Elon Musk then confirmed the mission had been postponed, following an announcement during a livestream of the event that it had been cut short. "Some of the engines didn't start, triggering an automatic launch abort. Now offloading propellant. Next launch attempt hopefully in a few days," Musk wrote in a post on X. Musk later added: "To be confident of a good flight, 2 Raptors will be removed & replaced. Most probable launch timing is early next week." The plan for Starship's 13th flight was to address problems seen during its previous flight and to carry and deploy 20 Starlink "Version 3" (V3) satellites. The Federal Aviation Administration gave SpaceX the go-ahead for its launch on Monday after closing an investigation into the company's 12th flight, which following a safe lift-off saw its Super Heavy booster crash into the Gulf of Mexico. The regulatory body ordered SpaceX to carry out an investigation that concluded with four actions, including software and hardware updates, to be completed. Analysts at Bernstein led by Douglas Harned wrote in a note on Friday that they viewed Starlink as "the key enabler" of SpaceX's growth in the future, but that it also represents a point of risk. They expect 3,543 launches of the 400-foot rocket in 2031, with about nine in 10 for the purpose of Musk's proposed orbital data centers. -Nora Redmond This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 07-17-26 1855ET Copyright (c) 2026 Dow Jones & Company, Inc.
SpaceX's post-IPO swoon is typical
After the June 11 market close, Elon Musk took his Space Exploration Technologies Corp. (otherwise known as SpaceX) public. Price: $135 a share. Result: The company raised some $75 billion before expenses. The next day, when the shares could be traded, the shares reached $176.52, then dropped to $160.95. Still, it was good day: The shares were up 19.2%. The following Monday, on June 15, SpaceX (SPCX) jumped 19.6% to $192.50. The following day, the shares rose another 4.8% to $201.80, achieving a market capitalization of $2.64 trillion. But few realized SpaceX's big opening run had ended. The June 16 high was $225.64, and that's been the peak for the stock. So far. SpaceX shares swoon SpaceX has mostly been sliding ever since because many investors (or traders) saw the peak and sold, happy to let others take over the risk with a company long on a huge idea but still developing the guts of the venture. On July 16, the stock finished at $131.11, down 3.1% on the day. And that's just the start. * SpaceX has fallen for five straight days. * It's down nearly 41% from its June 16 high. * And it's down 2% below that June 11 IPO price - and down 41% from the June 16 high. * There are some 180 million shares sold short, according to charting site TradingView.com. Meaning many traders believe the decline has more to run. So they're selling shares, hoping to buy them back at a lower price generating nice profits. SpaceX has big dreams and Elon Musk As a business, SpaceX isn't through. Elon Musk is bright, resourceful, driven, fantastically ambitious and well-connected. He has a vast number of fans, admirers and supporters who believe he's a genius visionary who will achieve his dream of populating the moon and beyond. The mission statement in the company's prospectus clearly articulates the audacious dream that powers Musk and his company: "Our mission is to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars." So that means hardware (chips, computers and space ship), software (lots of artificial intelligence) and intense development testing. The first goal - to colonize the moon - may take some years (and billions of dollars of SpaceX equipment. And years (and more money) after that to get to, say, Mars. And it didn't seem to help matters that SpaceX followed up with a controversial $20 billion bond offering to finance artificial intelligence development in its XAI group. AI, as we all know, sucks up billions of dollars of investment capital, with uncertain profitability. All IPOs suffer growing pains In the meantime, stocks are stocks, and initial public offerings are IPOs. Rarely after a company goes public does the share price rise consistently. And SpaceX right now is behaving like a lot of companies that have gone public. As a comparison, Meta Platforms went public (as Facebook) at $38 a share in May 2012. It promptly slumped, reaching a low of $17.55 in September 2012, according to Yahoo Finance data. The stock didn't close above $38 until Aug. 2, 2013. Fast forward to July 16, 2026. Meta, which has never split its stock, closed at $664.54. Which means if you bought 100 Meta shares at the 2012 IPO price and held on, your stake has jumped in value from $3,800 to $66,454. You would have more if you bought Meta in September 2012 when the shares dropped below $18. And still more if you reinvested dividends since they were initiated in 2024. Musk himself knows about market volatility thanks to Tesla, the electric vehicle company he joined in 2004 and soon took over. The company has evolved into a global brand that faces intense competition, especially from China. In late 2024, Tesla jumped nearly 190%, peaking at $479.86. It then fell 55% over the next five months. The shares recovered those losses by December 2025. IPOs, in fact, have a tough history. Small IPOs generally are no longer public within five years, according to a 2016 study published in the Harvard Business Law Review. A large IPO (which SpaceX unquestionably is) can weather a lot, but the first few years may be a struggle. An April 2026 study by ASB Growth Ventures showed that nearly 70% of newly listed companies underperform their benchmark indices within three years of listing. More SpaceX Big dreams require big patience So the performance of SpaceX's shares may be more volatile, but, given Musk's global celebrity, understandable. If Musk and his team can get their prime product, the Starship reusable rocket, to work safely and efficiently, the very patient investor may get rewarded. These include the biggest investment and money managers, many of whom put up seed capital for SpaceX 10-to-15 years ago. Already, many have reaped huge gains from the IPO, according to a June 12 Inc. magazine report. Peter Thiel's Founders Fund invested $600 million in SpaceX. The stake may be worth $20 billion. Baron Capital's $2-billion stake may be worth up to $12 billion. (If the firm has elected not to sell any of its holdings.) So far, one is not hearing sounds of panic. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 17, 2026 at 9:03 AM.