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AI spending drags down SpaceX shares
The article discusses SpaceX's performance and the impact of its high spending on its stock, despite strong financial results. The company reported higher-than-expected investments in artificial intelligence technologies, which led to an approximately 8.8% decline in its stock price in after-hours trading, even though its second-quarter revenues exceeded expectations. The company recorded revenues of $7.8 billion and a loss of 9 cents per share, with a market value of around $1.6 trillion. Future growth plans include expanding AI technologies and establishing space-based data centers, though these involve significant risks and may take years to realize tangible returns.
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