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Eisman Warns SpaceX IPO Risks as Capital Expenditure Surges to 215% of Revenue

GateNews
Stocks
According to Business Insider, renowned investor Steve Eisman, known as one of the real-life figures behind "The Big Short," warned on Monday, June 8 that SpaceX faces significant financial risks ahead of its record IPO. Eisman flagged a dramatic spike in the aerospace company's capital expenditure, noting it jumped from 42% of revenue in 2023 to 215% in the most recent quarter—primarily driven by heavy investments in artificial intelligence infrastructure. "The entire company is essentially betting on AI, not on space business or Starlink," Eisman told CNBC. While acknowledging SpaceX's past successes, he expressed concern about the company's over-reliance on costly AI investments amid uncertain market prospects.
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