TechFlow News, June 23: According to the Every Day Economic News, SpaceX’s stock closed down 16.43%, marking a cumulative decline of over 23% across three consecutive trading days. Its market capitalization shrank by nearly $400 billion in a single day—the second-largest single-day market-cap loss in global corporate history. As of market close that day, SpaceX’s market capitalization stood at $2.03 trillion—still 14.5% above its initial public offering (IPO) price of $135 per share.
Earlier reports indicated that SpaceX has signed a major computing-power agreement with open-source AI startup Reflection AI. Under the agreement, Reflection AI will immediately gain access to NVIDIA GB300 chip computing power and will pay $150 million per month starting July 2026, with the contract running through 2029. If fully executed, the total value of the contract is approximately $6.3 billion.
