SpaceX lost more than $600 billion in market value over three trading days following its plan to issue at least $20 billion in bonds. The move funds AI expansion linked to its xAI acquisition. Bitcoin held steady with a decline of less than 1 percent.
The newly public SpaceX shares fell 16 percent on Monday to $154.60, their lowest level since the June 12 debut. The three-day decline reached about 23 percent, reducing the company's value from nearly $2.5 trillion a week earlier to just above $2 trillion.
SpaceX chose debt markets rather than new share issuance to avoid diluting holders. The bond proceeds target the artificial-intelligence buildout from the February xAI purchase.
Bitcoin traded near $63,600 during the period and finished with a drop below 1 percent, according to CoinDesk data. Its market capitalization stood at $1.3 trillion, roughly half the size of SpaceX's lost value.
Broader tech markets also weakened as investors questioned returns on large AI investments by companies including Alphabet and Amazon.
