Shares in Elon Musk's rocket company, which raised $85 billion when it went public last week, were down nearly 5% on market close on Wednesday.

The deal will help to bolster the company's efforts to compete with rivals like Anthropic and OpenAI, which also offer popular coding tools.

SpaceX has rapidly become one of the world’s most valuable companies. Even so, experts say investing in single stocks can be risky.

SpaceX is preparing to raise at least $20 billion through a bond offering just days after its record-breaking stock market debut, according to Reuters. The move would mark another major financing milestone for Elon Musk's company,

Moody's Ratings assigned Elon Musk's SpaceX a Baa1 rating late Thursday. The grade puts the space-exploration company comfortably in investment grade status--three notches above speculative grade, or "junk"--helping keep borrowing costs down if SpaceX wants to sell bonds on the public market.

SpaceX is now bigger than Amazon. Its shares are more popular than every other stock on the market, combined. And it just bought an AI company for $60 billion.

By Laura Matthews and Saqib Iqbal Ahmed June 16 (Reuters) - Trading in SpaceX options kicked off with heavy volume on Tuesday, underscoring strong investor demand for a new way to bet on the future of Elon Musk's aerospace company.

Cursor, which started in 2022, helped spark a trend called “vibe coding” as AI coding assistants have become increasingly capable of doing the work of computer programming.

Investors who missed the SpaceX IPO may already have exposure to the stock through mutual funds, ETFs or retirement accounts.