Even a Successful Starship Launch Wasn't Enough to Lift SpaceX Stock. Investors Are Still Worried About This 1 Thing
SpaceX's Starship rocket is making progress, but its AI spending is reaching into the stratosphere.
Overview
Space Exploration Technologies (NASDAQ: SPCX) recently completed the 13th test flight of its large Starship rocket, and by the company's own accounts, it was mostly successful. Even with the rocket completing many of its objectives -- including a soft splashdown in the Indian Ocean and the release of Starlink satellites -- investors weren't wowed.
In the first trading session following the launch, SpaceX stock was down by more than 4%.
Details
So, why aren't shareholders pleased with the results? It's likely because SpaceX is spending billions of dollars to build its artificial intelligence infrastructure -- and they're worried it won't pay off.
Source
Originally published at www.fool.com.