SpaceX spooks investors with debut earnings report

SpaceX reported stronger-than-expected earnings on Tuesday, but investors weren't pleased. The company posted quarterly revenues of seven point eight billion dollars, well above analyst estimates of six point eight two billion, and a net loss of five hundred forty-one million dollars — much better than Wall Street's estimate of two point one two billion. But shares fell ten percent on Wednesday after SpaceX revealed the reason: nearly sixteen billion dollars in planned capital spending on artificial intelligence and data center development this quarter, double the previous quarter. The company says that spending level will continue for at least two more quarters, Ars Technica reports.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton