EconomyDan Ives Says Capex Is the Only Way to Realize Musk’s AI Vision for SpaceX

Dan Ives, a partner and senior managing director at Yorkville Ives & Co., reviewed SpaceX’s first quarterly report. The company disclosed that spending on its artificial-intelligence business came in higher than expected. Ives said capital expenditure is the only way for Elon Musk’s AI ambitions for SpaceX to become reality. The remarks focus on the scale of investment required after the company’s quarterly disclosure.