SpaceX spooks investors with debut earnings report
SpaceX shares dropped on Wednesday after Elon Musk’s plans for blockbuster spending to position his AI and rocket company as a data center developer spooked investors. SpaceX surpassed analysts’ expectations in Tuesday’s debut earnings report, posting quarterly revenues of $7.8 billion, well above analysts’ estimates of $6.82 billion and up 92 percent from a year earlier. It posted a net loss of about $541 million, better than estimates of $2.12 billion. But shares in SpaceX fell 10 percent in e
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SpaceX released its first earnings report as a public company and reported quarterly revenues nearly double those of a year earlier, exceeding analyst expectations. However, investor concerns about the company's massive spending plans on artificial intelligence and data center development caused shares to fall significantly in early trading. The company announced capital expenditures of almost $16 billion on AI infrastructure, double the previous quarter, with plans to maintain this spending level for at least two more quarters. This spending reflects ambitious goals to expand computing capacity dramatically and position the company as a data center developer, though analysts and investors have expressed concerns about the financial sustainability of this strategy.
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