SpaceX shares fell about 2% as the company’s stock came under pressure amid a broader selloff in AI-related equities.

The decline was also linked to continued selling pressure following the release of post-IPO insider lockup restrictions, which allowed certain early investors and insiders to sell their holdings.

The move comes as investors reassess high-growth technology stocks amid concerns over the pace of artificial intelligence development and broader market volatility.

SpaceX’s latest decline highlights the pressure facing newly public technology companies as increased share availability combines with shifting investor sentiment toward the tech sector.