SpaceX stock drops after first earnings report as AI costs soar: Live updates - CNBC
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- SpaceX reported Q2 revenue that jumped 92% in its first earnings release since its IPO, though shares fell after the results as Wall Street weighed the company's AI capex costs.
- Despite topping Q2 estimates, SpaceX stock tumbled post-report because investors focused on rising AI infrastructure spending rather than the revenue beat, per CNBC, Yahoo Finance, and CNN coverage.
Why it matters: SpaceX's first quarter as a public company reveals the new valuation lens: a 92% revenue jump signals core momentum, but the stock drop on AI capex shows the market is repricing SpaceX as an AI infrastructure bet, not just a launch provider. Beating earnings matters less when the spending trajectory is the headline.
