SpaceX revenue jumps 92% but stock tumbles as investors weigh AI spending | CNN Business

SpaceX first earnings report as a public company blew past expectations. But it continued to burn through cash in pursuit of CEO Elon Musk’s vision for an AI-powered, Mars-colonizing future, putting investors on edge and sending SpaceX shares down in late trading. The newly public satellite, space and AI behemoth brought in $7.8 billion in revenue in the April-June quarter, which SpaceX said was up 92% from the same period in 2025. But the company remained unprofitable, losing $541 million in the second quarter, following a $4.3 billion loss in the first three months of the year. The results were well above the consensus analyst forecast of $6.8 billion in revenue and a net loss of $1.9 billion. SpaceX shares tumbled more than 8% in late trading, partly because of the eye-popping figures the company spent on its unprofitable AI segment. “The stock’s negative reaction is less a rejection of the fundamentals than a reflection of the enormous price of growth,” Luke Lango, technology analyst and publisher of Innovation Investor, said in a note. “Investors are demanding clearer evidence that its extraordinary growth can ultimately generate returns commensurate with its extraor