SpaceX Shares Drop with Nvidia Gaining Value; Nasdaq-100 Inclusion Question Returns - TechStock²

On June 19, 2026, U.S. markets resumed trading after a day off for Juneteenth, showing continued volatility. SpaceX shares dropped 3.6% to $185, while NVIDIA rose 3.0% to $210.69. Despite both being m... Read original →

The valuation gap between SpaceX and NVIDIA reflects capital’s strategic pivot from physical to intelligent infrastructure. NVIDIA’s 3nm EUV-based custom chips and AI factory paradigm are catalyzing upgrades across data center hardware, optical interconnects, and advanced packaging—embedding it deeply into the global compute supply chain. In contrast, SpaceX, despite launch-cost leadership, lacks scalable profitability and faces elevated regulatory risk from U.S. export controls and spectrum allocation policies. Its exclusion from the Nasdaq-100 restricts passive inflows, amplifying volatility. Over the next 12–24 months, as AI capex concentrates in Taiwan, China, South Korea, and U.S. fabs, NVIDIA will solidify its 'compute tax' dominance. Meanwhile, unless SpaceX achieves cash-flow breakeven via Starlink enterprise services or point-to-point transport, its valuation will remain vulnerable. Rivals like AMD and Amazon are accelerating in-house AI silicon to bypass CUDA, forcing NVIDIA to open software layers to defend its ecosystem moat.