Investors are eyeing updates on SpaceX's AI strategy following its merger with xAI, including progress on the planned acquisition of Cursor. Aug. 3, 2026SpaceX heads into its first earnings report as a public company after shedding more than $500 billion in market value since its IPO. Shares of the company extended their decline, falling to $106 in early trading and dropping over 50% from their post-IPO high, per Yahoo Finance. AdvertisementThe earnings come as investors question whether the company’s premium valuation can be justified despite continued losses, heavy capital spending and a high price-to-sales multiple. Extra pressure may come from rolling lock-up expirations which could allow early investors to begin selling shares.