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Shares of SpaceX tumbled on Wednesday despite reporting strong revenue growth in its first public quarterly earnings report, as investors questioned the rocket maker's accelerating investment in artificial intelligence.
Why SpaceX stock is falling despite strong revenue growth
Investors are focused on whether SpaceX will be able to deliver on its ambitious artificial intelligence agenda.
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John James wins Michigan Republican gubernatorial primary, CBS News projects
John James wins Michigan Republican gubernatorial primary, CBS News projects
U.S. Rep. John James, endorsed by President Trump, is projected to be the winner of Tuesday's Republican gubernatorial primary race in Michigan, according to CBS News.
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Jocelyn Benson wins Michigan Democratic gubernatorial primary, CBS News projects
Jocelyn Benson wins Michigan Democratic gubernatorial primary, CBS News projects
Michigan Secretary of State Jocelyn Benson is projected to be the winner of Tuesday's Democratic gubernatorial primary race, according to CBS News.
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Douglas Ollivant projected to win GOP primary in Virginia's 7th District, setting up race against Rep. Eugene Vindman.
Douglas Ollivant projected to win GOP primary in Virginia's 7th District, setting up race against Rep. Eugene Vindman
Republican Douglas Ollivant will run against Democratic Rep. Eugene Vindman in November.
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Virginia's key 2nd District to host rematch between incumbent GOP Rep. Jennifer Kiggans and Democrat Elaine Luria.
Virginia's key 2nd District to host rematch between incumbent GOP Rep. Jennifer Kiggans and Democrat Elaine Luria
Democrat Elaine Luria, who previously served four years in Congress, lost to Republican Rep. Jennifer Kiggans in 2022.
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Man carrying ammunition arrested near Trump National Golf Club before president visits Southern California.
Man carrying ammunition arrested near Trump National Golf Club before president visits Southern California
Federal authorities arrested a man who appeared to be monitoring security-planning activities at Trump National Golf Club in LA County ahead of the president's Southern California visit.
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SpaceX shows strong growth in its first earnings report since going public.
SpaceX shows strong growth in its first earnings report since going public
Elon Musk's rocket, satellite and AI provider reported quarterly revenue of $7.8 billion, topping Wall Street forecasts.
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The U.S. has used nearly all its stockpile of long-range missiles in Iran war, sources say.
U.S. has used nearly all its stockpile of long-range missiles in Iran war, sources say
CBS News has previously reported that the U.S. has dwindling stockpiles of defensive interceptors and long-range missiles.
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Mike Lindell stepping down as MyPillow CEO to focus on Minnesota governor's race.
Mike Lindell stepping down as MyPillow CEO to focus on Minnesota governor's race
Mike Lindell is stepping down as CEO of MyPillow to focus on his campaign for governor of Minnesota, the company announced Tuesday.
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Trump raises concerns over campaign in call with Rep. Max Miller amid abuse allegations
Trump raises concerns over campaign in call with Rep. Max Miller amid abuse allegations
Ohio Rep. Max Miller's reelection campaign has been upended by allegations that Miller assaulted his ex-wife, Emily Moreno, and their 2-year-old daughter.
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25 states sue Trump administration over latest round of tariffs.
25 states sue Trump administration over latest round of tariffs
New U.S. tariffs are hurting consumers and businesses, California's attorney general said in filing suit to block levies on 60 countries.
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Trump slams Jeanine Pirro for dropping Reflecting Pool vandalism cases, says she "choked."
Trump slams Jeanine Pirro for dropping Reflecting Pool vandalism case, says she "choked"
"She folded like an umbrella," President Trump said of Jeanine Pirro, U.S. Attorney for the District of Columbia.
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Cornyn and Tillis back Blanche for attorney general after deal on "anti-weaponization" fund.
Cornyn and Tillis back Blanche for attorney general after deal on "anti-weaponization" fund
GOP Sens. John Cornyn of Texas and Thom Tillis of North Carolina formally announced their support on Monday for Todd Blanche's nomination for attorney general.
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Senate pushes ahead with plan to fund the government through midterm elections.
Senate pushes ahead with plan to fund the government through midterm elections
The Senate is moving ahead with a plan to keep the government funded and avoid another shutdown before the midterm elections.
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Washington wildfires leave some Spokane residents with nothing: "All of our memories are gone."
Washington wildfires leave some Spokane residents with nothing: "All of our memories are gone"
More than 700 buildings in the Spokane area have been destroyed, and another 400 have yet to be assessed, officials said Monday as three fires burned in the area.
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The Justice Department moved Monday to dismiss a class action lawsuit brought by Jan. 6 defendants under the Federal Tort Claims Act, arguing that the claims brought by the rioters are prohibited because they were filed after the statute of limitations had expired.
Justice Dept. moves to dismiss Jan. 6 class action lawsuit
The Justice Department argued that the Jan. 6, 2021, rioters had until Jan. 6, 2023, to sue the federal government under the Federal Tort Claims Act, missing the deadline to file a lawsuit by over two years.
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Senate candidate El-Sayed says it's "funny to me" to assume Michigan votes for moderates when it voted twice for Trump.
Senate candidate El-Sayed says it's "funny to me" to assume Michigan votes for moderates when it voted twice for Trump
Populist Abdul El-Sayed and Rep. Haley Stevens top the Democratic field going into Tuesday's Senate primary. Former Rep. Mike Rogers is running unopposed for the GOP nomination.
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Lindsay Clancy's diary read during murder trial Monday: "I feel like I'm drowning every day."
Lindsay Clancy's diary read during murder trial Monday: "I feel like I'm drowning every day"
The Lindsay Clancy trial​ resumed with excerpts from her diary and testimony from doctors who treated Clancy and her children on the night of the murders.
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The Trump administration has finalized the planned voluntary framework for evaluating new AI models, and the White House will host a meeting with industry partners Tuesday to discuss it, a White House official confirmed.
Trump administration finalizes AI framework, official says
The order asks AI companies to share previews of powerful new models with the government before they are released to the public.
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Trump says oil companies should cut gas prices after making "too much money."
Trump says oil companies should cut gas prices after making "too much money"
President Trump said U.S. oil companies made "too much money" from high oil prices. "I'm not happy about it," he added.
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The U.S. military said on X Monday that it has redirected 44 commercial vessels under its blockade against Iran.
Live Updates: Iran denies Trump's claim that U.S.-Iran negotiations to begin today after U.S. strikes called off
Tehran said Monday it had no plans to hold direct talks with the U.S., despite President Trump's claim that a "deal is imminent."
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President Trump on Monday publicly rebuked Jeanine Pirro, his handpicked U.S. Attorney for the District of Columbia, for dropping the Lincoln Memorial Reflecting Pool vandalism case, and ignored questions about whether he intends to fire her.
Trump slams Jeanine Pirro for dropping Reflecting Pool vandalism case, says she "choked"
"She folded like an umbrella," President Trump said of Jeanine Pirro, U.S. Attorney for the District of Columbia.
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The House Ethics Committee released a report detailing the findings of an investigation into GOP Rep. Chuck Edwards, concluding that there is "substantial reason to believe" he violated House rules.
House Ethics Committee recommends censure for Rep. Chuck Edwards in sexual harassment probe
The House Ethics Committee released a report detailing the findings of an investigation into GOP Rep. Chuck Edwards, concluding that there is "substantial reason to believe" he violated House rules.
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Two Michigan residents who had "significant underlying health conditions" have died after contracting cyclosporiasis, the Michigan Department of Health and Human Services said on Monday.
Michigan health officials report 2 deaths among cyclosporiasis cases; patients had underlying conditions
Two Michigan residents who had "significant underlying health conditions" have died after contracting cyclosporiasis, the Michigan Department of Health and Human Services said.
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The funeral of five members of the same family who were killed in a Russian airstrike last week was held in central Ukraine on Monday, as Moscow again pounded the region.
Funeral held for family "wiped off the map" in Russian strike on Ukraine, neighbor says
At least two adults and four children were killed in the strike but the death toll could be higher as all the remains have not yet been formally identified.
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The sheriff in the Nancy Guthrie case said he didn't have a note indicating she was dead. But he did.
The sheriff in the Nancy Guthrie case said he didn't have a note indicating she was dead. But he did.
Investigators in the disappearance of Nancy Guthrie released two ransom notes, including one contradicting what the Arizona sheriff overseeing the case told CBS News.
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SpaceX set to release its first earnings report as a public company. Here's what to look for.
SpaceX set to release its first earnings report as a public company. Here's what to look for.
SpaceX will release its first earnings report as a public company on Tuesday in a key test for the company's stuttering stock price.
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Trump administration calls itself the most transparent. Yet few details of the Iran war have been shared.
Trump administration calls itself the most transparent. Yet few details of the Iran war have been shared.
The Trump administration is offering the public less information about the Iran war and its direction, even as the costs continue to mount.
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ICE detentions set Trump-era high in July, as immigration crackdown widens
ICE detentions set Trump-era high in July, as immigration crackdown widens
Detentions by Immigration and Customs Enforcement set a monthly record high for the second Trump administration in July, internal agency data obtained by CBS News shows, as ICE widened its crackdown.
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CEO of AI firm Hugging Face calls last month's hack by OpenAI model "very weird and unprecedented"
CEO of AI firm Hugging Face calls last month's hack by OpenAI model "very weird and unprecedented"
An artificial intelligence model that was being tested by OpenAI went rogue and hacked the firm Hugging Face on its own, in what Hugging Face CEO Clément Delangue called a "very weird and unprecedented" incident.
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