STARBASE, TEXAS / RankWire.AI / – SpaceX experienced a 13.6% decline in its stock price on Wednesday, August 5, closing at $108.27, marking the lowest level since its public debut in June. This decrease followed the release of the company’s inaugural quarterly report as a publicly traded entity. The report revealed that SpaceX spent $18.37 billion on capital investments for the quarter, with artificial intelligence infrastructure accounting for $15.83 billion of that total. During the same period last year, SpaceX allocated $749 million to AI assets.
The stock hit an intraday low of $107.18 and ended nearly 20% below its $135 IPO price. Trading of SpaceX shares on Nasdaq began on June 12, with the company selling 638.9 million Class A shares through the offering, including the full allotment assigned to underwriters. The transaction netted approximately $85.68 billion in proceeds. After the IPO, the stock climbed to a high of $201.80 before experiencing the latest downturn.
Revenue for the quarter grew by 92%, reaching $7.81 billion from $4.07 billion one year earlier. SpaceX reduced its net loss to $541 million from around $1.01 billion. Operating loss narrowed to $143 million from $970 million. Adjusted EBITDA hit $3.54 billion. Elon Musk, the company’s CEO, participated in the first earnings call after the IPO alongside other executives.
AI infrastructure investment drives capital raise
The AI sector generated revenue of $2.56 billion, a 247.5% increase from $737 million. New AI services and infrastructure contributed $1.88 billion to this growth. The segment reported an operating loss of $1.26 billion, compared to $1.52 billion a year earlier. R&D costs for AI rose by 94.1%, totaling $2.18 billion. Advertising revenue declined by $59 million during the quarter.
Starlink and related connectivity services generated $4.29 billion in revenue, marking a 65.8% increase. Income from connectivity operations rose by 79.4% to $1.66 billion. The number of consumer subscribers grew by 101.2%, although the average revenue per user fell by 22.4%. Revenue from government, aviation, maritime, and enterprise activities increased by $939 million. The space division reported $962 million in sales but posted an operating loss of $542 million.
Restrictions on shares granted after IPO begin to lift
On Thursday, August 6, up to 911.5 million shares held by employees and early investors will become eligible for sale. This block accounts for roughly 6.9% of SpaceX’s 13.18 billion outstanding Class A and Class B shares. It surpasses the number of shares sold during the IPO by about 272.6 million. SpaceX outlined its phased release schedule in its SEC filing, indicating that shareholders may sell their shares but are not obligated to do so.
At Wednesday’s closing price, the initial unlocked block was valued at approximately $98.7 billion. As of July 28, SpaceX reported having 7.70 billion Class A shares and 5.49 billion Class B shares outstanding. The company ended June with $93.52 billion in cash and $6.49 billion in marketable securities. The August 6 release marks the start of the first scheduled unlock for restricted shareholders, with additional lock-up expirations listed in the company’s post-IPO timetable.