Yesterday, I was saying at SPCX $110 to 'buy first, ask questions later,' and it shot up to $130 during the day. Then after the earnings report dropped, it tanked post-market, only to rocket back up and recover steadily. The data is actually good: revenue hit $7.81 billion, doubling year-over-year; EPS loss of $0.09 crushed the expected loss of $0.26; and EBITDA of $3.5 billion beat expectations by 75%. But single-quarter capital expenditures were $18.4 billion, compared to $10.1 billion last quarter—a quarter-over-quarter increase of 80%. That $18.4 billion is 2.36 times the revenue for the quarter. Basically, for every $1 earned, $2.40 was spent. What’s interesting is that @SpaceX CFO mentioned on the call that the money invested in AI will break even in less than a year. If it’s really that promising, then where did the $500 million net loss come from?