Grok Q2 MAUs Fall 5% as SpaceX Defends $1.94 Trillion AI Bet
Updated
Updated · Barchart · Jul 12
Grok Q2 MAUs Fall 5% as SpaceX Defends $1.94 Trillion AI Bet
3 articles · Updated · Barchart · Jul 12
Summary
Grok’s monthly active users have fallen 5% quarter over quarter so far in Q2, a setback for the chatbot just weeks after SpaceX’s June 12 IPO.
That slowdown matters because Grok sits at the center of SpaceX’s AI growth pitch, even as the stock carries a roughly $1.94 trillion valuation and a 104.66x price-to-sales multiple.
SpaceX is still expanding around the product, rolling out a no-code voice agent builder with 80 voices and 25 languages and planning the Starpipe gas line to support broader operations by January 2027.
The company’s latest quarter showed revenue up 15.42% year over year to about $4.694 billion, but net income was negative $4.276 billion and net cash flow negative $8.516 billion, underscoring the cost of its AI push.
Even with Grok losing momentum, analyst sentiment remains broadly bullish: 30 analysts rate the stock Moderate Buy, with an average target of $217 and some targets reaching $300 to $800.