SpaceX, in First Earnings After IPO, Reports Soaring AI Spending — SkimNews
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- SpaceX reported Q2 capital expenditures of $18.4 billion, up nearly sevenfold from $2.8 billion a year earlier, driven by spending on orbital AI data centers and Mars ambitions
- Revenue climbed 92% year-over-year to $7.8 billion, but the company still posted a $541 million quarterly loss — narrower than the $1 billion loss in the same period last year
- Shares dropped more than 10% in after-hours trading following the earnings release and Musk's investor call
- Elon Musk announced SpaceX would begin launching data centers into space starting next year and accelerated the company's $1 trillion revenue target from 2031 to 2030
- SpaceX went public in June in the largest-ever IPO, briefly making Musk the world's first trillionaire before shares slid
Why it matters: Investors are weighing SpaceX's narrower losses and near-doubled revenue against a 7x capex spike funding speculative moonshots — orbital AI data centers and Mars colonization. The 10%+ after-hours drop signals Wall Street skepticism, contrasting sharply with the IPO frenzy that briefly made Musk the world's first trillionaire.
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