SpaceX revenue jumps 92% in first earnings report since IPO, raising questions about tech valuations across markets

SpaceX revenue jumps 92% in first earnings report, but shares slide

SpaceX Q2 +92% revenue via AI compute deals ($1.25B Anthropic, $920M Google) and Starlink 12M subscribers; AI division lost $1.3B on $2.6B revenue. Stock fell 8%—investors doubt profitability of the pivot from rockets to computing infrastructure amid cloud giant competition.