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SpaceX stock (SPCX) fell sharply on Wednesday as investors continued to navigate volatile post-IPO trading. Shares of Elon Musk’s space and artificial intelligence company dropped more than 6% to $159.95 in early trading. The decline came amid broader weakness in technology and semiconductor stocks. The Nasdaq Composite fell 0.4%, while the S&P 500 slipped 0.1%.

Meta Platforms shares META surged in trading on Wednesday following a report that the company is developing a cloud infrastructure business that would sell artificial intelligence computing power and AI models to external customers. The proposed business would allow Meta to generate revenue from excess AI computing capacity, potentially creating a new source of income