Peter Schiff Says AI Stock Bubble Has Popped Amid SPCX's Decline: 'The Chart Is Not Looking Good'

The article is largely a market commentary piece centered on Peter Schiff’s bearish view that the AI stock bubble has burst, using SpaceX’s SPCX decline as evidence. Schiff highlighted that SPCX was trading around $120, roughly 11% below its $135 IPO price and more than 46% below its high, and said the stock closed under $120 near the day’s low. He argued that AI stocks, not AI itself, were overpriced and vulnerable, citing growing low-cost Chinese competition from Moonshot AI’s Kimi K3. The piece also notes other bearish takes from Gary Black and Whitney Tilson, reinforcing the negative sentiment around speculative AI-related valuations. Market impact is mostly sentiment-driven, with pressure on AI-linked names and a weakening technical backdrop for SPCX.