SpaceX shares fell after the company disclosed higher-than-expected spending on its artificial intelligence business, dampening an inaugural quarterly report that broadly surpassed Wall Street forecasts, Bloomberg reported. Shares of Elon Musk's rocket, satellite and AI conglomerate tumbled as much as 8.8% in US postmarket trading after it said capital spending jumped to about $18.4 billion in the second quarter. Revenue came in at $7.8 billion, above the $6.81 billion analysts had estimated, while the loss of 9 cents a share was smaller than the 24-cent loss forecast. Musk told analysts he expects the cadence of AI development to improve dramatically.The results capped a roller-coaster ride since SpaceX raised $86 billion in the largest stock-market debut ever, with shares since plunging amid post-IPO volatility and a broader AI selloff that erased more than $1 trillion in value from their peak, according to Bloomberg. More than $100 billion of stock becomes eligible for sale for the first time later this week, adding potential downward pressure. Starlink, its only profitable unit, reached 12 million subscribers, just below the 12.19 million expected. The AI business posted a $1.26 billion operating loss, better than feared, and SpaceX said capex in the third and fourth quarters would remain similar to the second. RBC's Ken Herbert said Starship remains the flywheel powering SpaceX's ambitions and a catalyst for unlocking connectivity and orbital-compute markets.