Business · 5 August 2026
SpaceX shares fall 10% after huge AI spending rattles investors
Bill Ingalls via Wikimedia Commons (CC0)
SpaceX's stock dropped sharply on Wednesday as a massive increase in spending on artificial intelligence concerned its investors. The space company spent $18.4 billion on capital expenditures in the second quarter, a sixfold increase, primarily due to AI. While its chief financial officer, Bret Johnsen, said the company is efficient, investors worry about returns from these investments.
Reported by CNBC · How we write briefs