SpaceX Q2 Capex Hits $18.4B, Stock Drops 5% Despite Revenue Beat

SpaceX shares fell 5% after-hours as $18.4B capex, driven by AI infrastructure, exceeded expectations despite Q2 revenue of $7.8B beating forecasts.

Woofun AI reports that SpaceX stock declined over 5% in after-hours trading following its inaugural quarterly earnings release. While second-quarter revenue reached $7.8 billion, surpassing market estimates, capital expenditure totaled $18.369 billion, with approximately $16 billion allocated to AI computing infrastructure, significantly exceeding the $13.2 billion analyst forecast.

Elon Musk stated that the company’s goal of achieving $1 trillion in annual revenue could be advanced to 2030 or potentially 2029, moving ahead of the previous 2031 target. He also outlined plans for lunar manufacturing using robots powered by solar energy. Starlink revenue grew 66% year-on-year to $4.3 billion with 12 million users, while AI business revenue surged 247% to $2.561 billion.