Key Takeaways
- SpaceX shares fell 9% today in a broad sell-off in AI and chip stocks.
- More than half of SpaceX’s third-quarter revenue came from its AI compute business, so the stock now trades with the data-center buildout.
- Rocket Lab and AST SpaceMobile also sold off without news of their own, so some of the selling hit space stocks as a group.
- Investors are right to price SpaceX with AI infrastructure, and its fourth-quarter report in early 2027 is the next real test.
SpaceX (SPCX) fell 9% today as a sell-off in AI and chip stocks sent the Nasdaq-100’s QQQ down 5%.
AI researcher and prominent AI-industry skeptic Gary Marcus summed up the morning on X: “Absolute slaughter.”
Two of SpaceX’s space peers fell further: Rocket Lab (RKLB) dropped 13% and AST SpaceMobile (ASTS) fell 15%, and neither has an AI compute business. (AST even announced a Space Force contract this morning.)
SpaceX is an AI stock now
SpaceX’s Super Intelligence segment brought in $7.56 billion of its $14.6 billion of third-quarter revenue. So when Democrats swept Congress on Tuesday, raising fears for the US data-center buildout, SpaceX went down with the rest of AI.
The selling reached the companies that power data centers, too. Bloom Energy (BE) sank 17%, even after NTT DATA announced a 900 MW fuel cell agreement with Bloom this morning.
Wall Street’s estimates count on SpaceX’s compute business to keep growing fast:
A $40 billion chip bill
The only company news was a Bloomberg report that Goldman Sachs and Apollo are in talks to sell parts of SpaceX’s roughly $40 billion financing for Nvidia chips to other investors.
That financing pays for a build that has grown quickly:
And it’s speeding up. SpaceX spent $48.1 billion on capex in the first nine months of 2026 and guides to another $35 billion to $40 billion in the fourth quarter.
TIKR tracks 39 analysts on SpaceX. How many say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on SpaceX, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See SpaceX’s Analyst Ratings
Space stocks didn’t get a pass
Rocket Lab and AST both report on Nov. 9. Rocket Lab guided to third-quarter revenue of $250 million to $265 million, but in October it pushed its Neutron rocket’s first launch into 2027. AST still needs dozens more BlueBird satellites in orbit before it can offer continuous service. Meanwhile, SpaceX agreed in October to buy 800 MHz spectrum for its own phone service.
If both hold up after reporting while SpaceX keeps sliding, investors are pricing SpaceX’s compute bet on its own.
What’s next for SpaceX
The way I see it, investors are right to price SpaceX with the rest of AI infrastructure. More than half its revenue now comes from renting out compute, and a political fight over data centers makes that business harder to forecast. I’d wait before buying this dip.
Of course, the demand is real for now. Fourth-quarter results in early 2027 will show whether December revenue hit SpaceX’s $100 billion annualized goal.
So what is SpaceX stock actually worth?
TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what SpaceX could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.
Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
