SpaceX Slips 3% Despite Fitch Rating and $40B GPU Lease; Rocket Lab and AST SpaceMobile Fall 2%

SpaceX stock fell 3% to $144 despite Fitch Ratings affirming its BBB+ credit rating after the company signed a $40 billion GPU lease with Apollo Global Management, dragging Rocket Lab and AST SpaceMobile down 2% each. The October 26 lease covers NVIDIA Vera Rubin chips for terrestrial compute, closing before year-end 2026 with delivery in early 2027. Fitch noted SpaceX’s $89.9 billion cash position and $38 billion debt, treating the lease as funding already forecast growth. SpaceX’s AI compute arm, Super Intelligence, generated $7.6 billion in Q3 2026 revenue, up from $0.8 billion a year earlier, though one customer accounts for 34.5% of consolidated revenue. Fitch projects $50 billion revenue in 2026 and $200 billion in 2027, with lease closure and customer concentration as key tests.