SpaceX reports strong revenue growth in its first quarterly earnings report since going public, but its stock declines after the results. Multiple outlets say revenue nearly doubles to $7.8 billion (about a 92% year-over-year increase), exceeding Wall Street expectations. The company’s growth is driven largely by non-rocket businesses, including Starlink satellite communications and sales of AI-related computing services. Several reports note that SpaceX’s spending remains a key concern. Quartz and other outlets point to very large capital expenditures—reported as $18.4 billion—creating investor unease even as revenue tops estimates. Bloomberg also highlights that SpaceX posts an operating loss of $1.26 billion from its AI business, though it is described as smaller than expected. While the earnings beat improves confidence in the company’s commercial momentum, the heavy investment profile and continued losses in parts of the AI operation contribute to the post-earnings selloff. Reporting also references ongoing signals and partnerships in the AI computing space, including a potential Nvidia-related deal, though specific deal terms are not consistent across the summaries.