SpaceX spooks investors with debut earnings report

SpaceX shares dropped on Wednesday after Elon Musk’s plans for blockbuster spending to position his AI and rocket company as a data center developer spooked investors. SpaceX surpassed analysts’ expectations in Tuesday’s debut earnings report, posting quarterly revenues of $7.8 billion, well above analysts’ estimates of $6.82 billion and up 92 percent from a year earlier. It posted a net loss of about $541 million, better than estimates of $2.12 billion.