Elon Musk’s SpaceX posted second quarter revenue above Wall Street expectations in its first earnings report as a public company, but shares dropped 10 percent in morning trading as investors reacted to ballooning AI investments. Shares have dropped more than 10 percent on Wednesday, with investors feeling spooked by its massively increased spending on AI technology. Nvidia shares rose about two percent in extended trading after Musk called the chipmaker’s products the best AI computers available. The company announced a partnership with Nvidia to design hardware for running AI models and services on satellites in orbit. SpaceX plans to offer standalone Starlink mobile service to compete with AT&T, Verizon and T-Mobile as early as next year.