AP Wire
  • Updated

SpaceX reported a smaller loss than Wall Street expected along with a surge in revenue in its first quarterly report as a public company as it sharply boosted spending, particularly on artificial intelligence. The company run by Elon Musk posted a loss of $541 million, or 9 cents per share, in the three months through June, less than half what financial analysts had forecast.  Musk will field questions from investors and financial analysts later Tuesday on a conference call. Stock in the rocket, satellite and AI company has fallen by roughly half since its June peak following a massive initial public offering that briefly made Musk the world’s first trillionaire.