SpaceX spooks investors with debut earnings report
Ars Technica George Hammond, Financial Times ● Covered by 5 sources
SpaceX reported strong first earnings with $7.8 billion in quarterly revenue and a smaller-than-expected loss, but shares fell 10% after the company announced $16 billion in capital expenditure for AI infrastructure, double the previous quarter. The company committed to maintaining spending at this elevated level through at least two additional quarters. Investors reacted negatively to the aggressive capital intensity required to build out AI and data center capabilities alongside its rocket business.
Why it matters
Shares slide in pre-market trading even as group says its quarterly revenues nearly doubled.