cnbc_topnews

SpaceX dives 10% after AI spending surge rattles investors

📰 source: cnbc_topnews · 💼 business

spacex shares fell over 10% in premarket trading wednesday after ai spending spooked investors, clouding an otherwise strong quarter.

the company's first earnings report as a public company landed tuesday. capital expenditures jumped sixfold to $18.4 billion in q2, ahead of analyst expectations, with most going toward ai. the stock closed at just over $125, below its $135 ipo price and well off the $200+ all-time high hit after listing. cfo bret johnsen said spending has been 'efficient' and ai compute gets less than a one-year payback. losses narrowed and musk promised $1 trillion annual revenue by 2030.

not everyone is convinced. former tesla board member steve westly told cnbc investors still question growth speed and costs before profitability. another test comes thursday when insider lock-ups expire, allowing insiders to sell shares.

why it matters: spacex's plunge after ipo shows ai capex skepticism, with insider lock-up expiry likely to add selling pressure.

source: cnbc_topnews
sentiment: -0.50 · impact: 0.60

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects