SpaceX Stock Drops 10.5% Ahead of $114B Unlocking Event

SpaceX shares fell 10.5% amid AI spending concerns and a record $114B share unlock. US markets opened higher with Dow up 0.33%, while AMD slid 7% on weak results.

Woofun AI reports that the U.S. stock market opened with gains across major indices, as the Dow Jones rose 0.33%, the S&P 500 climbed 0.56%, and the Nasdaq increased 0.39%. SpaceX shares declined by 10.5% due to concerns over surging AI expenditures and an impending liquidity event. On Thursday, Eastern Time, 9.12 billion restricted SpaceX shares will unlock, valued at approximately $114 billion based on August 4th closing prices, marking the largest unlocking in U.S. capital market history. AMD shares fell 7% following disappointing second-quarter performance and outlook.