SpaceX published its first earnings report since its June IPO, with quarterly revenue of $7.8 billion, up nearly 100% year-over-year and beating analyst expectations. Shares fell more than 5% after results as investors worried about massive capital expenditures of $18.4 billion in Q2, with nearly $16 billion dedicated to AI compute infrastructure. Elon Musk maintained that SpaceX would hit its $1 trillion annual revenue target by 2030, or possibly 2029, while also outlining plans for moon robots to handle manufacturing and build a mass accelerator. Starlink generated $4.3 billion in revenue, up 66%, with its subscriber base doubling to 12 million.
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