After capex for AI business of Space Exploration Technologies Corp. (SPCX.US) sharply topped expectations, company executives on Tuesday (4th) sought to assure investors that the investment is valuable and said the company could recoup costs within one year.

SpaceX released its first earnings report since its June listing, with shares falling after the results. 2Q26 revenue leaped 92% YoY, beating market expectations, but capex jumped up more than sixfold to USD18.4 billion, more than double quarterly total sales.

More than 80% of SpaceX's capex was directed toward AI. The company trails OpenAI, Anthropic and Google in models and services, and is competing in the cloud market with Microsoft Corporation (MSFT.US), Amazon.com, Inc. (AMZN.US) and Google by selling computing capacity.

According to market data, the USD18.4 billion capex topped analysts' average estimate of USD13.22 billion. SpaceX shares fell off 7.5% in after-hours trading, almost erasing earlier gains and trading more than 20% below the first-day trading price on June 12.
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AASTOCKS Financial News
Website: www.aastocks.com

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