CNBC·3 min read·medium
SpaceX dives 10% after AI spending surge rattles investors - CNBC
A
Arjun Kharpal
✦AI Summary
SpaceX shares fell over 13% following an earnings report that revealed a massive $18.4 billion capital expenditure surge, primarily driven by AI investments. Despite the market reaction, the company's CFO defended the spending as efficient with a projected one-year payback period.
SpaceX shares sank 13.6% on Wednesday after a surge in artificial intelligence spending rattled investors and clouded an otherwise expectation-beating quarter.
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