SpaceX stock fell Tuesday after the company disclosed higher-than-expected spending on its artificial intelligence business, dampening an inaugural quarterly report that broadly surpassed Wall Street forecasts.
Shares of entrepreneur Elon Musk’s rocket, satellite and AI conglomerate tumbled as much as 8.8% in U.S. post-market trading after it said capital spending jumped to about $18.4 billion in the second quarter.
“We expect the cadence of AI development to improve dramatically,” Musk told analysts on a conference call after the company reported results that beat forecasts for revenue, AI losses and Starlink subscriber growth.
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japantimes.co.jp — original article
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