SpaceX reported its first earnings as a public company, beating revenue and loss estimates but spooking investors with a $16 billion capital expenditure plan for AI data centers. Shares fell 10% on the news, continuing a steep decline from their $225 post-IPO peak to $112. Musk announced plans to scale computing capacity from 2GW to nearly 10GW by end of 2027, relying exclusively on Nvidia hardware.
Background
SpaceX completed a historic $86 billion IPO in June 2026, marking one of the largest tech debuts ever. The company is now pivoting aggressively into AI infrastructure, competing with established cloud providers.
- Source
- Ars Technica
- Published
- Aug 5, 2026 at 09:59 PM
- Score
- 7.0 / 10