SpaceX stock fell after the company disclosed higher-than-expected spending on its artificial intelligence business, dampening an inaugural quarterly report that broadly surpassed Wall Street forecasts. Shares of Elon Musk’s rocket, satellite and AI conglomerate tumbled as much as 8.8% in US postmarket trading after it said capital spending jumped to about $18.4 billion in the second quarter. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: Ed Ludlow, Bloomberg Tech co-host Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research See omnystudio.com/listener for privacy information.

Earnings Special: SpaceX’s AI Splurge Puts a Damper on Debut Earnings After IPO

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The SpaceX, the company out with its first report as a publicly traded company. Revenue exceeded Wall Street's expectations, reported $7.8 billion. The company reported an operating loss, though, of $1.26 billion from its AI business that's better than the consensus expectation. Shares have plunged since that IPO, erasing more than a trillion dollars in market value from their peak. All right. Let's get to it with our team. We've got a great team, too. Mandeep Singh is with us right here in studio in our Bloomberg Interactive Broker Studio. He's Bloomberg Intelligence Global Head of Technology Research.

And out there in our San Francisco News Bureau is, of course, our own Ed Ludlow, host of Bloomberg Tech. Ed, let me just kick it off with you. What jumps out here? I know you're also on the live blog, but, you know, investors just kind of reading through. Yeah, I mean, overall revenue and sales came in above consensus.

Earnings Special: SpaceX’s AI Splurge Puts a Damper on Debut Earnings After IPO

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Earnings Special: SpaceX’s AI Splurge Puts a Damper on Debut Earnings After IPO

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.