SpaceX'in cömert yapay zeka harcama planları yatırımcıların cesaretini kırdı

SpaceX’s lavish AI spending plans unnerve investors

Melissa Lawford

Wed, August 5, 2026 at 12:27 AM GMT+3 3 min read

• SPCX -13.61%

Elon Musk's SpaceX lost $205bn in value after unveiling its first set of financial results since its blockbuster float as investors were unnerved by its spending plans.

The rocket company's share price plunged by nearly 13pc on Wednesday despite announcing results that beat Wall Street expectations.

Shares fell to as low as $109 (£80) 52pc below their peak in June.

SpaceX, which was founded by Mr Musk, said quarterly revenues nearly doubled from a year ago to $7.8bn – surpassing analysts' forecasts of $6.8bn.

However, capital expenditure, which measures spending on AI and other ventures, jumped to $18.4bn in the second quarter – up from $10bn in the first quarter.

Deutsche Bank said investors had been rattled by "higher AI ... spending".

It came as many investors in its blockbuster listing prepare to sell their shares for the first time.

More than $101bn worth of stock is set to become available for trading on Thursday as the so-called "lock-up period" – which prevents investors from selling – expires.

The earnings update is the first earnings since Mr Musk, the richest man in the world, took the company public in the world's biggest initial public offering (IPO) in June, raising $75bn and valuing SpaceX at $2tn.

Mr Musk hailed "another milestone year" for the company, which is behind the Starlink Wi-Fi system as well as Starship space rockets and AI data centres.

Mr Musk said that Starlink could deliver the "majority of the world's internet" within the next decade and predicted that Starship would be doing one flight a day by next year.

Bret Johnsen, the company's chief financial officer, said: "Revenue growth accelerated across all our business segments.

"This financial strength gives us substantial capacity to invest in Starship, Starlink broadband and mobile satellites and our AI platform while maintaining a disciplined long-term capital allocation framework."

The company made a net loss of $541m but that was much better than Wall Street analysts had anticipated.

The SpaceX float made Mr Musk, who has a 42pc stake in the rocket and AI group as well as holdings in electric-vehicle maker Tesla, the world's first trillionaire.

However, after soaring to $201 in the first days after the IPO, the shares have floundered.

SpaceX's main business is centred on launching rockets and providing satellite internet through its Starlink service but Mr Musk is increasingly using the company to drive his AI ambitions.

In February, SpaceX took over Mr Musk's artificial intelligence start-up xAI, which makes the Grok chatbot and owns the X social media site, in the world's largest ever merger and acquisition.

Mr Musk has said he wants to use the company to put as many as a million satellites into orbit to form enormous, solar-powered data centres in space.

In the spring, it also launched Terafab, a massive AI chip manufacturing project, along with Tesla.

But for all its sky-high valuations, SpaceX was loss-making last year, shedding $4.9bn, primarily because of major investments in AI infrastructure.

Last month, SpaceX aborted the 13th test flight for its Starship rocket after the booster engines ignited.

Mr Musk was the biggest individual donor to Donald Trump's 2024 presidential election campaign, spending some $288m to help him get elected.

He then served briefly as Mr Trump's chief of the Department of Government Efficiency (Doge), a body set up to cut government spending, before he clashed with the president and left the administration.

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