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SpaceX and AMD beat quarterly estimates, but shares slide
SpaceX said AI-related capital expenditures rose to $15.8 billion in the quarter, while AMD shares fell more than 5% despite a strong outlook.
SpaceX and AMD posted after-the-bell quarterly results that topped expectations, but investors reacted by pushing shares lower, according to Yahoo Finance.
SpaceX reported Q2 revenue of $7.8 billion, up from $4.7 billion in the prior quarter, and said capital expenditures dedicated to AI climbed to $15.8 billion. Yahoo Finance highlighted that this level of spending exceeded analyst projections and raised concerns about whether the large cash outlay will produce attractive returns.
AMD also beat Q2 estimates and delivered a strong outlook, but its stock dropped more than 5%. Yahoo Finance noted that other mega-cap technology names, including Amazon and Microsoft, were also in focus after recent milestones and earnings results.