SpaceX gets solid credit ratings but stock still takes a dip

SpaceX just earned high marks from three big credit agencies, meaning they're seen as financially stable enough to pay their bills. That’s usually good news for investors, but the company’s stock still dropped 3. 6% on Thursday, even though it’s still worth more than when it first started trading at $135. The agencies gave SpaceX ratings like Baa1, BBB+, and BBB, which aren’t perfect but show they’re not a risky bet. The company’s value hit over $2 trillion on its first day, which sounds impressive. But that giant number also makes people wonder if it’s too much for a company still figuring out its next moves. SpaceX is pouring money into AI, recently spending $60 billion to buy Anysphere, the team behind Cursor, an AI tool for coders. The credit agencies like SpaceX’s strong position in space launches and Starlink, its satellite internet service, but they’re worried about the hefty costs and the unproven AI business.Starlink is doing well, with steady money coming in and lower costs thanks to how SpaceX builds and controls everything itself. That gives it an edge over competitors. Another plus? SpaceX is a key player for NASA and the U. S. military, handling most of their launches. But the agencies also pointed out risks—like if SpaceX’s big bets on AI don’t pay off, or if the costs get out of hand. Right now, experts on Wall Street are cautiously optimistic. Most say it’s a good time to buy, with an average price target of $235, suggesting a 27% jump from where it is now. Still, the market isn’t convinced just yet.