SpaceX Slips 2% on a Reported $40 Billion Chip Financing Plan; Rocket Lab Eases, AST SpaceMobile Falls 3% David Moadel Wed, October 7, 2026 at 9:19 AM EDT 5 min read SPCX -2.26% ASTS +8.01% RKLB -2.68% NVDA -0.69% SPY -0.44% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Reuters reported SpaceX is seeking $40B in debt to buy NVIDIA AI chips, sending SPCX down 2% and dragging Rocket Lab lower in sympathy.
AST SpaceMobile leads sector losses at 3% while the Procure Space ETF drops 1%, tripling the broad market's decline despite neither being part of the deal.
Bears warn borrowing this scale to buy depreciating hardware adds fixed obligations; bulls argue locking up compute capacity now blocks competitors permanently.
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A report that SpaceX (NASDAQ:SPCX) is lining up a giant debt package to buy NVIDIA (NASDAQ:NVDA) artificial intelligence (AI) chips is putting pressure on the most capital-intensive corner of the market. SpaceX stock is down 2% to $168.03 in morning trading, and the selling has spread to smaller launch and satellite names that play no part in the reported deal.
Also, Rocket Lab (NASDAQ:RKLB) stock is down 2% to $73.29, easing in step with the sector's largest name. AST SpaceMobile (NASDAQ:ASTS) stock is falling 3% to $61.50, the steepest decline among the three space names.
Meanwhile, the Procure Space ETF (NASDAQ:UFO) is down 1% to $43.73, which carries the weakness into the sector basket. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is falling 0.4% to $776.19, which leaves space stocks trailing the broad market by a clear margin.
Reuters reported that SpaceX is seeking $40 billion from banks and investors to fund purchases of NVIDIA AI chips. Those talks are preliminary and may not result in a completed transaction, and the reported arrangement would be split between bank lending and investment-grade debt. SpaceX and NVIDIA didn't respond to requests for comment.
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No company has confirmed the plan, so the financing stands as a reported proposal for now. A purchase of this size would feed SpaceX's expanding AI computing business, which the company sells under multi-year customer agreements. Seen that way, the reported financing reads as a continuation of SpaceX's existing direction.
SpaceX builds and flies reusable orbital rockets and operates a satellite broadband constellation. Adding AI computing creates a cash-hungry third line. SpaceX's business was already among the most capital-intensive in the group, and the power, cooling, and networking names feeding that expansion are the subject of our free AI infrastructure report. NVIDIA, the dominant AI chip supplier, would be the seller in the reported purchase, which places the chipmaker at the center of the story.
Heavy spending profiles help explain why Rocket Lab and AST SpaceMobile shares are trading lower alongside SpaceX stock even though neither plays a direct role in the reported deal. Each of SpaceX, Rocket Lab and AST SpaceMobile sits inside the Procure Space ETF, which ties the fund to the same pressure. The fund also holds satellite operators and aerospace contractors, so the Procure Space ETF's smaller decline reflects a basket that extends well beyond launch.
SpaceX's bear case centers on leverage. Borrowing on this scale to buy depreciating hardware would add fixed obligations to SpaceX, whose core businesses already consume cash faster than most, and any slowdown in demand for SpaceX's AI computing contracts would leave those payments due regardless.
On the bullish side, compute capacity SpaceX buys now is capacity a competitor can't buy later. Lenders willing to fund the purchase at investment-grade terms would be pricing the risk as manageable, which supports the argument that SpaceX can carry the load.
The next catalyst for SpaceX is whether the financing is confirmed on the reported terms. A preliminary talk that never closes would change nothing about SpaceX's balance sheet, while a signed deal would make the leverage debate specific.
Any statement from SpaceX or NVIDIA on the size and structure of an agreement will be worth watching. In the meantime, it may be prudent to reduce your position size in SPCX stock.
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