Performance exceeded expectations but could not counter the money-burning black hole of AI! SpaceX (SPCX.US) saw its capital expenditures surge to $18.4 billion in Q2, resulting in a post-market value evaporation of over $100 billion.

The Zhiyin Finance APP noted that SpaceX (SPCX.US) saw its stock price drop after disclosing that its spending on artificial intelligence was higher than expected, casting a shadow over the company's first quarterly report, which overall exceeded Wall Street forecasts. The financial report showed that SpaceX's revenue in the quarter reached $7.8 billion, a year-on-year increase of 90.2%, exceeding expectations by $980 million; the loss per share was $0.09, lower than the analyst prediction of a loss of $0.24 per share.