SpaceX Valuation Loses Altitude as AI Risks Mount

SpaceX's stock has fallen 25% from its $225 IPO peak to $165, as investors reassess the company's strategic pivot toward AI data centers and software acquisitions. The $60 billion all-stock acquisition of Anysphere, combined with a $6.3 billion computing power agreement with Reflection AI, is straining cash flow and diluting shareholder value. Additionally, Starlink's average revenue per user has declined from $99 to $66 monthly, while the company faces potential merger rumors with Tesla. Rising interest rates and a microscopic 5% public float are amplifying the sell-off.