SpaceX Shares Plunge 16% on AI Talent Exodus, FTSE Futures Drop 106 Points
SPCX•SPCX shares tumbled 16% overnight following reports of key talent departures in its artificial intelligence division, driving FTSE 100 futures down roughly 106 points. London stocks opened sharply lower with the FTSE shedding about 80 points to just under 10,374 as miners and tech investment funds also slumped.
1. SPCX Shares Plunge on AI Talent Departures
SPCX opened with a 16% decline after market chatter about several senior engineers and executives exiting its AI division. Investors reacted swiftly to concerns that talent losses could stall key development projects and undermine future growth prospects.
2. FTSE Futures Signal Continued Downside
Pre-market FTSE 100 futures fell roughly 106 points, erasing previous gains and setting a negative tone for trading. SPCX’s drop contributed notably to the weakness in tech-linked instruments ahead of the opening bell.
3. Sector-Wide Tech and Mining Slump Adds Pressure
Alongside SPCX, major tech names saw heavy losses—Alphabet fell over 5%, Amazon slid 4%, and Meta lost about 2%. Precious metals and copper miners also suffered, with Fresnillo down 6.1%, Antofagasta off 4.8% and Anglo American down 3.7%, amplifying the market sell-off.
