SpaceX shares plunge 12% as AI capex doubles to $15.8B, raising cash-flow concerns

Published Aug 5, 01:38 PM UTC

SpaceX shares fell 12% to $110 on August 5, 2026, following its first public earnings report. While Q2 revenue surged 92% year-over-year to $7.81 billion, beating estimates, AI capital expenditure doubled to $15.8 billion, raising free-cash-flow concerns. The company named NVIDIA its exclusive AI-chip supplier and unveiled a Starlink AI payload. A looming lockup expiration could expand tradable shares by over 140%, adding selling pressure. Other space stocks like Rocket Lab declined only 1%, indicating a company-specific selloff. Wall Street analysts are divided, with Bank of America reiterating a Buy and $235 target, while JPMorgan raised its target to $240.