STARBASE, TEXAS / RankWire.AI / – SpaceX shares fell 13.6% on Wednesday, August 5, and closed at $108.27, their lowest finish since the June public debut. The decline came after the company released its first quarterly results as a listed business. The report showed $18.37 billion in capital spending for the quarter. Artificial intelligence infrastructure accounted for $15.83 billion of that amount. SpaceX spent $749 million on AI assets during the same quarter last year.
The stock reached an intraday low of $107.18 and finished nearly 20% below its $135 IPO price. SpaceX shares started trading on Nasdaq on June 12. The company sold 638.9 million Class A shares through the offering, including the underwriters’ full allotment. The transaction provided about $85.68 billion in net proceeds. The stock later climbed to a post-IPO high of $201.80 before the latest series of declines.
Quarterly revenue increased 92% to $7.81 billion from $4.07 billion one year earlier. SpaceX narrowed its net loss to $541 million from about $1.01 billion. The operating loss fell to $143 million from $970 million. Adjusted earnings before interest, taxes, depreciation and amortization reached $3.54 billion. Chief Executive Elon Musk joined other company leaders for the first earnings call following the IPO.
AI infrastructure spending leads capital increase
The artificial intelligence segment generated $2.56 billion in revenue, up 247.5% from $737 million. New AI services and infrastructure contributed $1.88 billion of the increase. The segment recorded an operating loss of $1.26 billion, compared with $1.52 billion a year earlier. AI research and development costs rose 94.1% to $2.18 billion. Advertising revenue declined by $59 million during the quarter.
Starlink and related connectivity services produced $4.29 billion in revenue, an increase of 65.8%. Operating income from connectivity rose 79.4% to $1.66 billion. Consumer subscriber growth reached 101.2%, while average revenue per user decreased 22.4%. Government, aviation, maritime and enterprise activities added $939 million in revenue growth. The company’s space business reported $962 million in sales and an operating loss of $542 million.
Initial post-IPO share restrictions expire
Up to 911.5 million shares held by employees and early investors become eligible for sale on Thursday, August 6. The block represents about 6.9% of SpaceX’s 13.18 billion outstanding Class A and Class B shares. It exceeds the IPO share count by roughly 272.6 million. SpaceX detailed the staggered release schedule in its prospectus filed with the Securities and Exchange Commission. Eligibility allows holders to sell but does not require any transaction.
The first unlocked block had a notional value of about $98.7 billion at Wednesday’s closing price. SpaceX listed 7.70 billion Class A shares and 5.49 billion Class B shares outstanding as of July 28. The company ended June with $93.52 billion in cash and $6.49 billion in marketable securities. The August 6 session opens the first scheduled release for restricted shareholders. Additional lock-up expirations remain listed under the company’s post-IPO timetable.