SpaceX's third-quarter results should help answer investor concerns that the artificial-intelligence investment boom could slow, J.P. Morgan analysts write. The Elon Musk-run company forecast fourth-quarter capital expenditure of between $35 billion and $40 billion, a sharp increase on the prior quarter.
"We expect SpaceX to be the first of many this earnings season to temper concerns around power and financing constraints and reinforce momentum around the AI buildout," the analysts say. The group's earnings should be positive for stocks across the AI ecosystem.
SpaceX shares jump close to 10% premarket.