SPACEX SHARES FALL AS AI SPENDING CONCERNS WEIGH ON MARKET

SpaceX shares extended their decline following the company's debut earnings results, with market analysts citing concerns over artificial intelligence spending as a factor. Morgan Stanley expects SpaceX to spend $64 billion on capital expenditure this year, with the company dramatically increasing its AI investments.

US equity futures gained after stocks closed at an all-time high for the first time since June, though SpaceX's share movement ran counter to the broader market rally.