SpaceX Q2 Capital Spending Surges to $18.4B, Stock Plunges Over 10% to $111 Overnight

According to Youanalyze, SpaceX's second-quarter capital expenditure jumped to $18.4 billion overnight on August 5, a six-fold increase from $2.8 billion a year earlier, triggering a stock selloff that sent shares down more than 10% to approximately $111 in premarket trading. Of the total capex, roughly $15.8 billion was directed to AI computing infrastructure, with the remainder allocated to Starship rockets, launch facilities, Starlink satellites, and ground stations.

Starlink remained SpaceX's largest revenue driver, posting Q2 revenue of $4.3 billion, up 66% year-over-year, driven by 1.7 million new subscribers and a 108% surge in enterprise and government services revenue.