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SpaceX shares slide 12% after AI spending outlook shakes investors
Elon Musk said SpaceX expects $1 trillion in annual revenue by 2030, shifting the earlier 2031 target as investors weigh growth plans and a large upcoming share unlock.
SpaceX shares fell about 12% after investors reacted to signals around how fast the company can scale its business amid an AI spending surge, according to CNBC Markets.
In comments cited by CNBC, CEO Elon Musk said SpaceX would reach $1 trillion in annual revenue in 2030, compared with a previous forecast that pointed to 2031.
The selloff also reflected concern over a massive share unlock looming ahead, adding to uncertainty for traders and shareholders.
CNBC World and CNBC Earnings carried the same market focus on the stock move, the updated revenue timeline, and the potential impact of the upcoming share release.