SpaceX Partners With Nvidia On Space-Bound AI System

SPCX closed at $135.035 on August 24, 2026, down 1.41% from the prior close of $136.97, on volume of 53,789,012 shares.

Executive Summary

SPCX pulled back to close just above its $135.00 IPO offer price, giving back most of the ground gained in last week's bounce. The session's news flow was mixed: Elon Musk posted that SpaceX has designed a space-optimized Vera Rubin NVL72 system with Nvidia for launch to orbit in the fourth quarter of next year, and separate Benzinga coverage detailed SpaceXAI's plans to deploy Nvidia Vera CPUs to expand its Grok infrastructure and power a planned Starmind satellite. Against that, a Motley Fool piece flagged that Phillip Securities analyst Glenn Thum issued a $75 price target on SPCX, implying 45% downside, citing capital expenditures at 2.4 times revenue, revenue concentration of 19.5% from a single AI customer, a $542 million operating loss in the space segment, a price-to-sales ratio of 86, and upcoming insider lock-up expirations. A second Motley Fool article separately cited a Wall Street veteran describing SpaceX's IPO as a cautionary example for Anthropic's reported $2 trillion valuation ambitions.

Price action reflected that tension: the stock rallied intraday before fading into the close, and volume came in well below the recent average, suggesting the decline was not accompanied by heavy conviction selling.

News

1. EXCLUSIVE: How AI's $220 Billion Bond Boom Competes With the Treasury

AI companies issued $220 billion in debt as Treasury yields surged. Cato economist Jai Kedia says the competition is healthy, not a problem to fight. (Benzinga, Aug 24, 2:21 PM ET)

2. Elon Musk Posts On X "SpaceX, in partnership with Nvidia, has designed a space-optimized Vera Rubin NVL72 system for launch to orbit in Q4 next year, with significant scale in 2028"

(Benzinga, Aug 24, 1:31 PM ET)

3. SpaceXAI Taps NVIDIA To Build Faster AI Agents

SpaceXAI will deploy NVIDIA Vera CPUs to power agentic AI applications and expand its Grok infrastructure across massive data centers. (Benzinga, Aug 24, 12:48 PM ET)

4. Could This Brokerage Stock Help Make You a Millionaire?

Robinhood has experienced significant growth since its IPO five years ago, expanding from $959M to $4.5B in revenue and doubling its customer base to 27M users. The company is diversifying into fintech and banking services with strong momentum in Gold subscribers and new features. However, at 33x adjusted EBITDA, the stock appears fairly valued and unlikely to deliver the massive multibagger returns needed to create new millionaires, despite solid 15-18% projected growth rates. (The Motley Fool, Aug 24, 12:05 PM ET)

5. SpaceXAI Expands Grok Infrastructure With NVIDIA Vera Rubin, Plans AI-Powered Starmind Satellite

(Benzinga, Aug 24, 11:01 AM ET)

6. Tesla Sets Cybercab Launch Event for September 3 but Prediction Markets Doubt It'll Impress

Tesla launches Cybercab Sept. 3, but traders give just an 18% chance Musk delivers one for $30,000 or less in 2026. (Benzinga, Aug 24, 10:10 AM ET)

7. Anthropic Wants Investors to Buy Into a $2 Trillion Dream—But a Wall Street Veteran Says SpaceX’s IPO Offers a Warning for AI Investors (UPDATED)

Anthropic’s $2 trillion valuation faces scrutiny as a Wall Street veteran warns investors about growth, margins and the SpaceX lesson. (Benzinga, Aug 24, 9:23 AM ET)

8. Amazon Could Be Worth More Than Tesla and SpaceX Combined by 2030. Here's the Math.

While Tesla and SpaceX currently have a combined market cap exceeding Amazon's $2.8 trillion valuation, analyst Rick Munarriz argues Amazon will surpass their combined worth by 2030. Amazon's superior profitability, double-digit net margins, and reliable growth trajectory outweigh Tesla and SpaceX's faster growth rates. By 2030, Amazon is projected to generate $215 billion in net income on $1.38 trillion in revenue, compared to Tesla and SpaceX's combined $151 billion in net income on $636 billion in revenue. (The Motley Fool, Aug 24, 7:17 AM ET)

Price Action

Metric	Value
Open	$134.35
High	$138.33
Low	$133.10
Close	$135.035
Change vs prior close	-1.41% (from $136.97)
Volume	53,789,012
Intraday range	$133.10 – $138.33 ($5.23)
Close vs IPO offer price ($135.00)	+0.03%
Close vs IPO close ($160.95)	-16.10%

SPCX opened at $134.35, traded up to an intraday high of $138.33, then reversed to a low of $133.10 before settling at $135.035, a decline of 1.41% versus the prior close of $136.97. Volume of 53,789,012 shares came in well below the average-volume-to-date of 118,260,289 (about 45% of average) and also below the prior session's 78,876,635 shares. The close landed almost exactly on the $135.00 IPO offer price, essentially flat against that reference point, but remains 16.10% below the June 12 IPO close of $160.95.

The stock closed effectively at its IPO offer price on lighter-than-average volume, with the day's gain fully reversed by the close.

Technicals

SPCX has traded for roughly ten weeks since its June 12, 2026 IPO. That history is too short for the 14-day RSI and the 20/50/200-day moving averages to carry their usual weight — the 200-day SMA is not yet available, and even the 50-day figure reflects a stock still finding its footing. The readings below are shown for reference, but price structure, candle shape, and volume are the more reliable guide at this stage.

Trend

Since the IPO, SPCX rallied to a close of $201.80 on June 16, then declined through July to a post-IPO closing low of $108.27 on August 5, before rebounding to $146.23 on August 17. It has pulled back over the four sessions since, closing today at $135.035. Price now sits below the SMA-5 ($137.80), EMA-5 ($137.06), SMA-10 ($139.60), and SMA-50 ($141.30), but remains above the SMA-20 ($129.02). That mix points to a short-term downtrend within a longer, choppy range that has not resolved in either direction.

Candle read

Today's candle had a small body of $0.69 against a total range of $5.23, with a long upper wick of $3.30 and a short lower wick of $1.25. The close location value of 0.37 means the close landed in the lower third of the day's range. Price pushed up toward the session high before sellers took control, pulling the close back down near the low. That is a rejection pattern — an attempt to extend higher failed, and the session ended weak.

Support levels

• $135.00 — the IPO offer price, which the stock closed essentially on top of today
• $133.10 — today's intraday low
• $130.00 — nearest round-number level below

Resistance levels

• $136.97 — the prior close, now overhead
• $137.06 / $137.80 — the EMA-5 and SMA-5
• $138.33 — today's intraday high
• $139.60 — the SMA-10
• $141.30 — the SMA-50

Momentum interpretation

RSI-14 sits at 50.58, a neutral reading that does not indicate overbought or oversold conditions.

Bull scenario: a move back above the prior close of $136.97 and the SMA-5/EMA-5 cluster near $137-138 would put today's high of $138.33 in play, with the SMA-10 at $139.60 as the next level to clear.

Bear scenario: a break below today's low of $133.10 and the $135.00 IPO offer price would expose the $130.00 round-number area.

Neutral scenario: continued consolidation between today's low of $133.10 and high of $138.33 without a decisive break of either boundary.

Trading Takeaway

SPCX gave back last week's gains and closed almost exactly at its $135.00 IPO offer price, with the day's rejection candle showing sellers stepping in after an intraday push higher. Volume at roughly 45% of the average-to-date suggests the move was not driven by unusually heavy participation, even against a session that included a bearish analyst price target in the news flow. For the next session, the key levels to watch are support at today's low of $133.10 and the $135.00 offer-price area, against resistance at the prior close of $136.97 and today's high of $138.33.

Sources

1. EXCLUSIVE: How AI's $220 Billion Bond Boom Competes With the Treasury — Benzinga
2. Elon Musk Posts On X "SpaceX, in partnership with Nvidia, has designed a space-optimized Vera Rubin NVL72 system for launch to orbit in Q4 next year, with significant scale in 2028" — Benzinga
3. SpaceXAI Taps NVIDIA To Build Faster AI Agents — Benzinga
4. Could This Brokerage Stock Help Make You a Millionaire? — The Motley Fool
5. SpaceXAI Expands Grok Infrastructure With NVIDIA Vera Rubin, Plans AI-Powered Starmind Satellite — Benzinga
6. Tesla Sets Cybercab Launch Event for September 3 but Prediction Markets Doubt It'll Impress — Benzinga
7. Anthropic Wants Investors to Buy Into a $2 Trillion Dream—But a Wall Street Veteran Says SpaceX's IPO Offers a Warning for AI Investors (UPDATED) — Benzinga
8. Amazon Could Be Worth More Than Tesla and SpaceX Combined by 2030. Here's the Math. — The Motley Fool
9. TSLA Competitor? Xiaomi Joins NIO in Race to Build In-House Chips for Self-Driving Cars — Benzinga
10. SpaceX Faces Key Price Warning as Analyst Flags 45% Downside Risk — The Motley Fool
11. Elon Musk Reacts To Wernher Von Braun's Strange Mars 'Prediction,' Joking 'As Foretold In The Prophecy' About a Leader Called 'Elon' — Benzinga
12. Zelensky Pushes Elon Musk To Allow Starlink Over Russia, Says Expanded Satellite Coverage Could Reduce Moscow's Ability To 'Drag Out The War': Report — Benzinga
13. Elon Musk Weighs In As Atreides CIO Gavin Baker Warns of 'Compute Inequality,' Sees His Firm's AI Spending Double Monthly — Benzinga
14. Alpaca Markets (SIP) — market data

Disclaimer

This report is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Prices, volumes, and other figures are sourced from Alpaca Markets and the cited news outlets as of the timestamps noted above and may be delayed or subject to correction. Verify all data independently before making any financial decision.