SpaceX (Nasdaq: SPCX) reported a 92% year-over-year increase in Q2 revenue to $7.8 billion, with its artificial intelligence (AI) business, acquired through xAI, contributing 33% of total revenue. The company's operating loss narrowed from $1.94 billion to $143 million. Additionally, SpaceX finalized a computing power lease agreement with Alphabet for $920 million per month and signed an AI hosting agreement with an anonymous client for $1.11 billion per month. Analysts noted that despite SpaceX's market capitalization reaching $2 trillion, its stock price has been highly volatile, and its price-to-sales ratio stands at 70, significantly exceeding the S&P 500 average, indicating that high growth expectations are already fully priced into the stock.