SpaceX just dropped its first quarterly earnings since going public — and the numbers are jaw-dropping: revenue doubled to $7.8 billion, fueled by a $2 billion AI surge and $1.7 billion from Starlink. But while the company’s IPO raised over $85 billion and hit a $1.75 trillion valuation — briefly outpacing Amazon and nearly matching Microsoft — the stock is now trading below its IPO price, dipping as much as 8% after hours. Massive revenue wins don’t always translate to market confidence — and this could be a turning point for SpaceX’s future.
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