SpaceX Shares Fall 14% Amid Concerns Over Musk's AI Investment
UKPulse Money Desk
Shares in Elon Musk's rocket firm, SpaceX, have fallen by 14%, reportedly due to investor concerns over his $16 billion investment in AI, despite the company reporting better-than-expected revenue.
- SpaceX shares tumbled 14%.
- The decline reportedly followed investor concerns about Elon Musk's $16 billion AI investment.
- SpaceX revenue for the three months to June soared 92% to $7.8 billion.
SpaceX, the rocket firm led by Elon Musk, has seen its shares fall by 14%. This decline reportedly occurred despite the company announcing better-than-expected results, with revenue for the three months to June soaring by 92% to $7.8 billion.
The slump in share value is attributed to investor concerns regarding Musk's $16 billion investment in artificial intelligence.