Tesla's AI products will "dramatically" increase demand for SpaceX's Starlink internet service, CEO Elon Musk said. Both stocks are down.
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While SpaceX's most recent earnings report barely mentions X, it is clear the company's ad revenue has fallen hundreds of millions of dollars since Elon Musk took over in 2022.
SpaceX Corp (NASDAQ:SPCX) shares remained under pressure on Wednesday, with shares falling about 13% to around $109, as analysts remained broadly positive following the company's first earnings report as a public company, arguing the results reinforced its long-term growth outlook despite...
SpaceX just posted its first public earnings report and shares cratered in after-hours trading, but Elon Musk is calling the selloff a buying opportunity. Before you follow his lead, there are some serious questions about the numbers worth considering.
The company will be the exclusive provider of AI chips to another big name in the space.
A sixfold jump in capital spending overshadowed stronger results and a more ambitious long-term revenue target.
SpaceX reported its first quarterly results as a public company, beating on revenue but falling 11% as investors focused on heavy capital spending. Its 18,712 bitcoin lost roughly $195 million in value during the quarter. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."
SpaceX stock has been weak for weeks. Analysts are sticking with their price targets. The average analyst price target for SpaceX stock is about $227 a share, according to FactSet, down $1 since SpaceX reported better-than-expected second-quarter numbers on Tuesday evening.
Investors are focused on whether SpaceX will be able to deliver on its ambitious artificial intelligence agenda.
CEO Abel Avellan said the launch shows steady progress toward a space-based cellular network built for scale and that beta services are planned for later this year. Retail sentiment around ASTS improved after SpaceX’s second-quarter earnings on Tuesday. Shares of AST SpaceMobile (ASTS) traded lower on Wednesday after a sharp rally the previous day, as investors digested a successful satellite launch alongside broader space-sector moves.
It can still get uglier for SpaceX.
Tech stocks were taking a breather during Wednesday's session after leading yesterday's rally. The Nasdaq Composite was down 0.3%, while the S&P 500 fell to the flatline. The second-quarter earnings season is ongoing, and companies that deliver beats on the top and bottom lines have seen muted stock reactions.
SpaceX's stock slide continues, and it may be a gift for investors.

SpaceX (SPCX) erases $205 billion in market value on Wednesday following its first-ever earnings release, with its AI spending forecasts weighing heavily on investors' minds. BofA Securities senior aerospace and defense analyst Ron Epstein comes on Market Domination to discuss his biggest takeaways from SpaceX's results.
SpaceX is on course to burn $50 billion this year. That's a surprise.

AllianceBernstein global head of ETF strategy and partnerships, Julie Gunts, sits down with Yahoo Finance's Julie Hyman to discuss the dynamic between the tech sector, earnings, and ETF flows.
Both companies face a challenging road ahead.
SpaceX just posted one of the most impressive earnings reports in recent memory, and the stock is getting crushed anyway. Two converging forces are threatening to swamp even the strongest bull case, and one of them hasn't even hit yet.
Stocks kicked off Wednesday's session higher, extending the week's broad rally. The S&P 500 was on pace to set another record high, up 0.6%. The Dow Jones Industrial Average rose 1.1% or 600 points, also on track for a fresh record.
SpaceX’s AI infrastructure business reached 1.4 GW of nameplate capacity as compute spending drove quarterly capital expenditures above $18 billion.