SpaceX’s revenue exceeded Wall Street’s expectations in the company’s first quarterly financial report following its blockbuster initial public offering in June. Elon Musk’s satellite, space and artificial intelligence conglomerate reported revenue of $7.8 billion on Tuesday, greater than than the $6.81 billion analysts polled by Bloomberg estimated on average. It also unveiled an operating loss of $1.26 billion from its AI business, better than the consensus for a loss of $2.39 billion.

SpaceX’s eagerly awaited quarterly results cap a roller coaster ride since the company raised $86 billion in the largest stock-market debut of all time. Its shares have since plunged in a bout of post-IPO volatility and a broader AI selloff, erasing more than $1 trillion in market value from their peak along with Musk’s status as the world’s first trillionaire. We get reaction from Bloomberg Tech host Ed Ludlow, and Mandeep Singh, Global Head of Technology Research for Bloomberg Intelligence.
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“If you look at our markets outside of software, spreads are actually relatively tight still… But I would characterize those capital markets as very open to do business in,” says The Carlyle Group Chief Financial Officer Justin Plouffe.

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Bloomberg’s Liam Knox joins Scarlet Fu on “Bloomberg Real Yield.” Thousands of faculty members are urging the UC system to reconsider its test-free admissions policy. They argue that more students are arriving underprepared for college-level work since the system stopped considering SAT and ACT scores in 2020.
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Jessica Taylor, Senate and Governors editor at The Cook Political Report, says Michigan’s Democratic Senate primary is a test of whether the party’s progressive energy can translate to a general election in a closely divided state. Taylor says if Abdul El-Sayed wins, Democrats may have to spend more heavily to retain swing voters against Trump-endorsed Republican Mike Rogers. She also says Senator Susan Collins’ opposition to Todd Blanche’s nomination for attorney general reflects the political need to distance herself from President Trump as she enters what Taylor calls her most vulnerable reelection position yet. She speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg’s “Balance of Power.”
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, Commerzbank says a strategy developed together with UniCredit could be beneficial for investors, extending an olive branch to the Italian rival that’s set to take control of it. The comments came as the German lender announced a €1.2 billion share buyback, after second quarter net income beat estimates.

Siemens has raised its earnings expectations for a second time this year on a surge in data center spending and higher returns from selling software to industry.

Global stocks slipped from record highs, as disappointing guidance from US memory makers Sandisk and Western Digital weighed on sentiment.

And Iran says it has reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz.

Today’s guest: Bettina Orlopp, Commerzbank CEO & Roland Busch, Siemens CEO

Chapters:
00:00:00 – Daybreak Europe 8/6/2026
00:03:58 – Asia Market Check
00:06:23 – Memory Makers’ Guidance Disappoints
00:09:21 – Iran Says Hormuz Agreement Reached with Oman
00:13:27 – SoftBank 1Q Earnings To Test AI Bet Beyond ChatGPT
00:17:23 – Major Hedge Funds Said to Be Targeted In Cyberattacks | Bloomberg Scoop
00:19:41 – Headlines: Commerzbank, Situational Awareness, Meta
00:23:55 – Chips Leave Investors Hungry
00:26:56 – SpaceX’s $101B Unlock Heaps Pressure On Shares
00:31:23 – Zurich and Swiss Re Report
00:33:40 – Commerzebank CEO Bettina Orlopp
00:41:54 – Siemens CEO Roland Busch
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