Can SpaceX Overcome the AI Trade Sell-Off?

SpaceX's AI revenue surged 830% to $7.6 billion in Q3, now representing 52% of total revenue, but the company's stock remains down 5% from its IPO price. Investors are skeptical due to massive capital expenditures of $19.6 billion in the quarter (83% allocated to AI) and uncertainty about whether these investments will pay off long-term. While Starlink and space launch businesses show solid growth, SpaceX faces headwinds as the broader market questions tech companies' AI spending efficiency.