SpaceX Starts Spending Like a Hyperscaler

A.M. Edition for Aug. 5. Michigan awaits the results of a Democratic Senate primary seen as a referendum on the party’s identity. We’ll get the latest as the vote count continues. Plus, SpaceX shares slide after the company discloses huge AI investments. And struggling private colleges are increasingly tapping restricted donor endowments to cover day-to-day operating expenses, something WSJ’s Douglas Belkin reports is in many cases being done without donor knowledge or consent. Luke Vargas hosts.