SpaceX's first earnings report released on Tuesday: revenue of $7.81 billion significantly exceeded expectations, up 92% year-over-year, while net loss narrowed from $1 billion in the same period last year to $541 million. Driven by the broader market, the stock rose approximately 9%.

However, after hours, as investors focused on the $18.4 billion quarterly capital expenditure (about six times that of the same period last year) rather than profitability itself, the stock sharply reversed and fell about 9% to around $114.

Although both revenue and losses increased significantly, Wall Street remains unconvinced by the AI capital expenditures.

The stock trends for SpaceX and Tesla are basically the same; idealists ultimately have to deliver answers in the real world.