The Financial Express6-23

Musk’s fortune falls $300bn as SpaceX shares slide 16.4% and nearly $928bn in value is erased from June 16 peak

SpaceX shares fell 16.4% on Monday to $155, dropping below the $160 IPO closing price and retreating more than 31% from the June 16 high. The selloff cut SpaceX’s market value from $2.99 trillion to roughly $2 trillion, wiping out nearly $928 billion. MSCI assigned the company a CCC ESG rating as SpaceX announced a bond offering and pressed ahead with its Cursor acquisition. The report also noted that Nvidia GB300 chips are used for AI training and that SpaceX’s $6.3 billion computing deal with Reflection AI is tied directly to Nvidia hardware supply.

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