Space Exploration Technologies Corp.
(NASDAQ:SPCX) shares are tumbling Wednesday after the company's debut earnings delivered a revenue beat that was overshadowed by a staggering expansion in artificial intelligence spending.
SpaceX stock is among today's weakest performers.
Why is SPCX stock dropping?
Despite Major Q2 Beats, Starlink ARPU Compression and Slowing Momentum Second-quarter revenue of $7.81 billion nearly doubled from the prior year and cleared the $6.93 billion consensus, with the AI segment surging 247% to $2.56 billion, Connectivity up 66% to $4.29 billion and Space advancing 29% to $962 million.
