Post

Here’s a tighter, more analytical version: 🚀 SPACEX PASSED ITS FIRST UNLOCK TEST — BUT NOT YET THE VALUATION TEST SpaceX shares rebounded 6.1% to $114.92 on Aug. 6 despite up to 911.5M shares becoming eligible for sale. The stock absorbed the first potential supply shock, but it remains below the $135 IPO price. 📊 Earnings highlights: • Revenue: $7.8B, +90%+ YoY • Net loss: $541M, better than expected • AI revenue: $2.56B, +247% YoY • Starlink revenue: $4.29B, +66% YoY • Starlink subscribers: ~12M But there’s a major catch: capex hit ~$18.3B, including ~$15.8B for AI infrastructure. That’s an enormous upfront investment compared with current AI revenue. The long-term opportunity may be huge, but investors still need to see that spending translate into sustainable margins. The unlock also isn’t over. More shares can become available under the staged schedule, while Musk’s shares remain subject to a 366-day lockup. Bottom line: The first supply test was encouraging. The bigger question is whether Starlink growth + AI expansion can justify the valuation and massive infrastructure spending. Which matters more now: AI revenue growth or continued absorption of unlocked shares? #SpaceXUnlockRebound #AIMemoryBullTest