SpaceX debuted at $150, surged to $232 in four days on a wave of AI excitement, then lost 34% of its value in a single week. It was the most hyped, most AI-adjacent IPO of 2026 — and when it turned, the Nasdaq, the chip stocks, and the rest of the tech trade turned with it. So is this just a speed bump, or is AI finally falling back to earth?
This week Sonoma Wealth Managing Principal Chris Sipes CFP® and Marketing Director Dano Weir examine:
• The highs and lows of the SpaceX IPO, and how hyperscaling AI companies are dealing with surging capital expenditures.
• How Bitcoin is experiencing it’s own volatility right now.
• What is the ‘credit spread cycle’ and how could it be influencing AI growth?
• What tomorrow’s rebalancing of the Russell 2000 could mean and could indicate about the future.
• Why Daren sees oil is telegraphing that the economy might be slowing down?
0:00 Intro + gold running too hard and fast
4:19 Bitcoin sentiment is low
7:30 Investor sentiment
10:02 Hyperscalers capital expenditures affecting buybacks
13:30 Credit spread cycles
18:40 Where are we in the cycle?
21:40 Gas prices falling?!
24:20 PCE ticking up and market’s reaction
25:03 Interest rate hikes expected
27:20 10-Year Treasury Spread
30:25 Existing vs. New Housing supply
37:30 US Dollar Index
38:50 Gold and oil going down
41:50 Bitcoin loses 8 year old line of support
45:30 Interest rates
47:18 SpaceX played out like a film script for an IPO
50:45 Mag 7 trading down
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