SpaceX Dives 10% After AI Spending Surge Rattles Investors The recent earnings report from SpaceX has sent shockwaves through Wall Street and beyond.
The company's decision to splurge on artificial intelligence (AI) research and development has investors scrambling to understand the implications of this massive bet on the future.
SpaceX's capital expenditures jumped sixfold to $18. 4 billion in the second quarter, exceeding analyst expectations. However, the stock price took a hit, plummeting over 10% in premarket trading.