SpaceX Stock Swings 8% in Aftermarket Following Q2 Earnings Beat, Weighed by AI Investment Plans

According to market data, SpaceX stock initially surged 9.43% to $125.33 on August 4 following the release of its first earnings report as a public company, but tumbled 8.8% in after-hours trading as investors digested heavy AI spending plans.

The company reported Q2 revenue of $7.81 billion, up 92% year-over-year and beating market expectations of $6.81 billion. However, capital expenditures reached $18.4 billion in the quarter, with approximately $15.8 billion directed toward AI computing infrastructure, raising concerns about profitability and cash flow sustainability. Additionally, 911.5 million shares held by employees and early investors are set to unlock on August 6, representing approximately $110 billion in potential selling pressure.