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Adam Forsyth

SpaceX stock falls 11% as AI spending hits $15.8B

SpaceX stock fell as much as 11% on Wednesday after record AI investment, and an approaching share unlock overshadowed the company’s stronger-than-expected second-quarter revenue. Summary SpaceX generated $7.8 billion in Q2 revenue, up 92% from a year earlier. AI-related capital expenditure jumped to $15.8 billion, compared with $749 million a year ago. Piper Sandler cut…

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