Funding Scrutiny Builds

The market focuses less on AI demand and more on whether SpaceX can finance $35 billion to $40 billion of Q4 capex without pressuring liquidity or ownership dilution. Because SpaceX is private and strategically important, the reaction is contained, but AI-infrastructure enthusiasm becomes more selective.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.