TradingKey – On July 22, Eastern Time, SpaceX ( SPCX) shares hit another record low, falling 5.32% to $116.97 as of press time.

It is reported that SpaceX AI is further ramping up data center construction, with a scale matching the gigawatt-level capacity of the existing Memphis campus. However, the company’s Q1 AI-related capital expenditures have surged to $7.7 billion, approximately three times that of the same period last year. Morgan Stanley analysts predict that xAI will consume a combined total of up to $120 billion in cash between 2026 and 2027—a figure that is nearly 1.6 times SpaceX’s IPO proceeds of $75 billion.

SpaceX stock chart, Source: TradingView

According to a report by The Information on Wednesday, xAI has scouted…