The rockets are still blowing up. So why is Elon laughing on his SpaceX earnings call?

Some rockets go up. Some come back down. And some, well, blow up.

At a glance, it’s business as usual for SpaceX, and it comes at a cost: a net loss of $541 million in the second quarter of this year. Market jitters about the company’s enormous AI spend, in a crowded field with deep-pocketed competitors, pushed its stock down around 10%, enough to fuel jeers from Elon Musk’s sizable audience of haters and skeptics.

‘They desperately want to blow themselves into tiny pieces.’

On SpaceX’s Q2 earnings call, however, Musk himself couldn’t hold back a laugh or two.

After all, despite his participation in the ultra-high-spend AI industry, SpaceX is, first and foremost, about space.

“Rocket science is literally our daily business,” he said on the call. “And