CoinDesk·3 min read·hard
SpaceX extends decline to 11% on lockup expiration and capex spending fears
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Shaurya Malwa
✦AI Summary
SpaceX shares declined 11% amid concerns over high capital expenditures and the expiration of a share lock-up period. Despite strong revenue growth, the company's heavy investment in Starlink and AI infrastructure, combined with Bitcoin price volatility, has created uncertainty for investors.
Revenue rose 92% from a year earlier to $7.8 billion, beating Wall Street estimates, while adjusted EBITDA nearly tripled to $3.5 billion. The company narrowed its net loss to $541 million, but spent $18.4 billion during the quarter as it expanded Starlink, Starship and its AI infrastructure.
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