Lates News

SpaceX released its Q2 revenue of $7.8 billion, exceeding Wall Street's expectations of $6.8 billion. The company previously raised $86 billion through the largest IPO in history, but its stock price has significantly declined since then, evaporating over $1 trillion in market value from its peak, causing Musk to lose his status as the world's first trillionaire. Another factor adding uncertainty for the company is the unlocking of shares worth over $100 billion later this week, which may exert further downward pressure on the stock price. During the conference call, analysts are likely to press Musk for details on the company's massive AI spending, plans for the expansion of Starlink internet services, and the speed at which Starship can launch satellites and crewed missions.