SpaceX Stock Holds Near $145 as AI Execution Risks Intensify

SpaceX shares have settled around $145.30 after tumbling from their June IPO peak above $225, reflecting investor caution over heavy AI spending and execution risks. The company poured $7.7 billion into AI infrastructure in Q1 2026, driving a $1.9 billion operating loss, while securing $28 billion in annualized AI contracts and rebranding xAI as SpaceXAI. Near-term AI payoffs remain tied to terrestrial Colossus clusters rather than orbital compute, with analysts highlighting Starship and data-center buildout risks as dominant concerns. Starlink continues to scale with 10.3 million subscribers, but overall profitability remains pressured by $20.7 billion in 2025 capex.