MUSK’S SPACEX UNNERVES INVESTORS WITH LAVISH AI SPENDING PLANS
MUSK’S SPACEX UNNERVES INVESTORS WITH LAVISH SPENDING PLANSCurrent: MUSK’S SPACEX UNNERVES INVESTORS WITH LAVISH AI SPENDING PLANS
Change detected 2 hrs ago
REPORT A PROBLEM WITH THIS SOURCE
WHAT HAPPENED
SpaceX announced plans to spend heavily on artificial intelligence during its most recent earnings call, causing investors to sell shares even as the company reported quarterly revenues that nearly doubled, according to the International homepage.
The company said the new AI budget would support future launch and manufacturing initiatives, while its stock fell in after‑hours trading. Musk’s first earnings call since the historic IPO also highlighted plans to launch the next Starship rocket this month and begin Starship orbital flights, a move underscored by SpaceNews and TechCrunch reports.
SpaceX, a private space exploration company founded by Elon Musk, has become a key player in commercial spaceflight and has recently shifted focus toward artificial intelligence as part of its broader strategy.
- SpaceX plans a significant increase in AI spending, raising investor concerns.
- Quarterly revenues nearly doubled, but shares dropped after the announcement.
- Musk’s earnings call also revealed plans for the next Starship launch and the start of orbital flights.
RELATED DAMMNEWS COVERAGE
- SPACEX WANTS TO LAUNCH NEXT STARSHIP THIS MONTH (AND CATCH IT, TOO), ELON MUSK SAYS IN 1ST EARNINGS CALL SINCE HISTORIC IPO - SPACE
"space OR nasa OR spacex OR ESA • 3 hrs ago • SPACE - SPACEX TO BEGIN STARSHIP ORBITAL FLIGHTS
SpaceNews • 3 hrs ago • SPACE - ELON MUSK REPEATEDLY ONE-UPPED HIS EXECS ON SPACEX’S FIRST EARNINGS CALL
TechCrunch • 4 hrs ago • TECH