SpaceX shares fall as tech and AI stocks retreat amid market concerns
Shares of SpaceX dropped sharply while broader technology and semiconductor stocks declined, as investors reacted to potential regulatory scrutiny of data-centre projects and the AI sector.
SpaceX shares fell sharply on Tuesday, joining a broader sell-off in technology and artificial-intelligence stocks. Over the past five days, Intel has lost more than 18%, Nvidia more than 10%, and the Philadelphia Semiconductor Index has slipped over 13%.
The market movement follows speculation that data-centre construction and AI activities could face tighter regulatory review after recent U.S. mid-term elections. OpenAI president and co-founder Greg Brockman said the reaction to data-centre projects surprised many and highlighted the need for greater community engagement. > "A lot of our shift over the course of this year has really been to realise that from San Francisco trying to build infrastructure in Texas, Georgia, and other places, you can't just tweet and say: 'This is going to be good.' You need to be in those communities," Brockman said at the Wall Street Journal Tech conference in Napa, California.
Separately, reports noted that Elon Musk has contributed nearly $450 million to Republican political campaigns, including $45 million supporting Ken Paxton's Texas Senate bid, though Texas voted Democratic in the recent election.