SpaceX Revenue Jumps 92%, AI Spending Spooks Investors

SpaceX's second-quarter revenue nearly doubled to $7.8 billion, but capital expenditures soared over sixfold to $18.4 billion, mostly on AI. The stock fell 7.5% after hours, leaving shares more than 20% below their June IPO price. The AI business lost $1.2 billion on $2.5 billion revenue.