SpaceX Tumbles 10% as $18.4B AI Capex Overshadows 92% Revenue Surge
SPCX is trading near its 52-week low of $104.83 (8.2% above the low) on light trading volume (0.3× avg).
Summary
SpaceX shares are down more than 10% despite Q2 revenue soaring 92% to $7.8 billion, as investors balk at the $18.4 billion in capital expenditures, largely driven by AI investments. The selloff follows last night's earnings beat and echoes the earlier high-score report on the capex spook. Adding pressure, CEO Elon Musk announced SpaceX will exclusively use Nvidia chips, sending AMD shares lower and signaling a costly commitment to AI infrastructure. The market is reassessing the payoff timeline for these massive outlays, with the stock now well below its $135 IPO price.
At the time of this announcement, SPCX was trading at $113.40 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.5T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.