Haidi Stroud-Watts

SpaceX Shares Fall as $18.4 Billion AI Spending Overshadows Revenue Beat

SpaceX’s first quarterly report as a public company beat revenue expectations and posted a smaller-than-expected AI operating loss, but its shares fell as investors focused on $18.37 billion in capital spending and management’s plan to maintain a similar pace through year-end. Bloomberg’s Danny Lee said Starlink remains the company’s profitable cash generator and that compute sales are already producing revenue, while Haidi Stroud-Watts characterized SpaceX’s longer-term plan for data centers in space as largely unproven.