SpaceX dives 12% after AI spending surge rattles investors

SpaceX experienced a significant stock decline following the release of its first earnings report as a public company. The shares fell 12% in premarket trading on Wednesday, a day after closing below the company’s initial public offering price of $135.
The primary driver of investor concern was a substantial increase in capital expenditures during the second quarter. The company reported capex jumped sixfold to $18.4 billion, with the majority directed toward artificial intelligence initi