NEW YORK — Shares of Tesla and SpaceX steadied on Wednesday, with the two Elon Musk-led names finding their footing a day after a report that SpaceX plans a $40 billion debt raise to buy Nvidia AI chips rattled traders and briefly knocked the stock lower.
The quick stabilization suggests the market is reading the borrowing less as a red flag and more as the cost of building the compute empire Musk has promised. For investors in Tesla — NASDAQ: TSLA — and SpaceX — NASDAQ: SPCX — the through-line is the same: an all-in bet on AI infrastructure that is starting to look like a feature, not a bug. We broke down the borrowing plan when $SPCX dipped on the $40 billion Nvidia chip report.
Where the Tape Sits
$TSLA has been trading in the high-$370s, holding near $377 after touching roughly $379 earlier in the week, within a 52-week range that has stretched from the low-$200s to the high-$400s. $SPCX, the newer and more volatile of the two, erased much of its one-day dip and settled back toward the upper end of its post-listing range. Volume in both names has run heavy as options traders position around Musk's AI-compute spending.
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Fundamentals Do the Talking
The bull case rests on operating results, not just narrative. Tesla just posted a record 486,532 deliveries in the third quarter, topping Wall Street estimates, while its first full year in India closed with a record September — evidence the demand engine is widening even as the AI story grabs headlines. SpaceX, which now houses xAI following the merger, is pairing a record launch cadence with a push into orbital AI compute that the debt raise is meant to fund. Tesla's 486,532-vehicle Q3 beat is the kind of print that lets the market look past a one-day funding scare.
The macro backdrop is cooperative, too. With $NVDA still the center of gravity for AI spending and the $QQQ grinding near records, capital remains cheap for the companies writing the biggest compute checks — and few are writing bigger ones than Musk's.
None of this erases the risk that comes with tens of billions in new debt. But the market's verdict after 24 hours is telling: both stocks are steady, the fundamentals are pointing up, and the Musk machine's appetite for AI compute is being priced as ambition rather than overreach. For live levels and the latest tape, CNBC's TSLA quote page tracks the action in real time.
This article does not constitute financial advice. Readers are advised to do their own research before investing in the stock market. Prices cited are point-in-time snapshots and may be stale — always confirm on a live financial source.
