SpaceX shares slide after first earnings show $143 million loss
What's next: A lockup expiry on Thursday will more than double tradable shares, adding fresh pressure after heavy AI spending spooked investors.
SpaceX shares fell in after-hours trading Tuesday after the newly public company posted its first earnings report, showing a $143 million quarterly net loss despite sharply higher revenue. Revenue nearly doubled from a year earlier to $7.8 billion, but capital spending surged to about $18.3 billion to $18.4 billion as the company poured money into artificial intelligence, Starlink and spacecraft development. Elon Musk told investors Starlink earned $1.6 billion in the quarter and said SpaceX expects rapid growth in selling compute power for AI projects. But the report added to concerns about valuation after the stock's sharp retreat since its June IPO, with more selling risk ahead when insider lockups expire Thursday.