SpaceX's Big AI Spending Puts Damper on First Earnings Since IPO

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SpaceX’s revenue exceeded Wall Street’s expectations in the company’s first quarterly financial report following its blockbuster initial public offering in June.

Elon Musk’s satellite, space and artificial intelligence conglomerate reported revenue of $7.8 billion on Tuesday, greater than than the $6.81 billion analysts polled by Bloomberg estimated on average.
It also unveiled an operating loss of $1.26 billion from its AI business, better than the consensus for a loss of $2.39 billion. SpaceX’s eagerly awaited quarterly results cap a roller coaster ride since the company raised $86 billion in the largest stock-market debut of all time. Its shares have since plunged in a bout of post-IPO volatility and a broader AI selloff, erasing more than $1 trillion in market value from their peak along with Musk’s status as the world’s first trillionaire.

On this episode, Carol Massar and Tim Stenovec speak with:

• Mandeep Singh, BI Global Head of Technology Research and Ed Ludlow, host of Bloomberg Tech
• Kate Gulliver, CFO, Wayfair
• Richard Bourke, Bloomberg Intelligence Senior Analyst, Metals & Mining on Copper Tops $14,000 as US Stockpiles Swell Before Tariff Call 

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