ASTS, CRWV and RGTI Shares Hit 52-Week Lows on Rivalry and Funding Worries

what happened

Shares of AST SpaceMobile (ASTS), CoreWeave (CRWV) and Rigetti Computing (RGTI) slid to new one-year lows on Monday, Stocktwits reported. AST SpaceMobile dropped 11%, CoreWeave lost 8% and Rigetti 5%. The main trigger for the satellite company was speculation that SpaceX, led by Elon Musk, could widen its wireless push by gaining spectrum tied to EchoStar's Boost Mobile unit. Traders fear that a combined satellite and terrestrial network would make it harder for AST to keep prices attractive and stay on its deployment schedule.

CoreWeave faced doubts over the cost and availability of money for AI data centers. Building them requires heavy upfront spending, and the company uses its Nvidia chips as collateral for loans. Higher interest bills and tougher lending terms could raise project costs and squeeze earnings, even though demand for GPU capacity remains robust. Rigetti touched a fresh low of $10.60 as investors dumped quantum names ahead of its third-quarter report. B. Riley cut its Rigetti target to $25 from $35 but kept a Buy rating. Year to date, the three stocks are down between 29% and 51%.

why it matters

The move shows investors repricing companies tied to AI infrastructure and space-based connectivity, where rising debt costs and new rivals weigh on valuations, while the quantum slump drags the wider group. Rigetti's Q3 report, due November 10, will show whether revenue reaches the $3.68 million analysts expect, with a $0.05 per-share loss, according to Fiscal.ai.

market impact

ASTS, CRWV, RGTI: rival satellite plans, costlier AI funding and a quantum sell-off push shares lower

• ▼AST SpaceMobile pressure down — a possible SpaceX entry into wireless challenges its pricing and launch plans
• ▼CoreWeave pressure down — higher borrowing costs make data center financing pricier and hit profits
• ▼Rigetti Computing pressure down — quantum stock selling ahead of earnings and weak sector demand

tags

instruments