SpaceX Shares Slump on Plans for Higher Spending on AI

SpaceX released its first earnings report following the firm’s going public back in June. The company’s shares retreated by 9% in the wake of Elon Musk revealing during the earnings call that the firm intends to spend a lot more on AI. Investors were spooked by this revelation.

Investors are increasingly getting uneasy about the exploding spending on AI by major tech firms, and other players like Meta Platforms Inc. (NASDAQ: META) will need to think of ways to alleviate the concerns of their investors in order to forestall&

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