SpaceX’s Nasdaq-100 debut didn’t spark a stock surge—instead, its shares plunged 17% in just a week, defying the usual post-listing uptick. While most new index additions see modest dips, SpaceX’s steep fall hints at deeper challenges: massive AI-driven investments, billions in annual losses, and the pressure to capture a $26.5 trillion AI market. Their real win won’t be measured in quarterly gains, but in how they build space-based cloud infrastructure and finally turn a profit—because for SpaceX, the long game is everything.
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