SpaceX spooks investors with debut earnings report

SpaceX shares dropped on Wednesday after Elon Musk’s plans for blockbuster spending to position his AI and rocket company as a data center developer spooked investors. 82 billion and up 92 percent from a year earlier. 12 billion.

But shares in SpaceX fell 10 percent in early trading after it reported capital expenditure of almost $16 billion on AI, double the previous quarter and well above Wall Street’s expectations. It said spending would persist at current levels for at least two more quarters.