AI is now $SpaceX(SPCX.US)'s biggest business, and it isn't closeSpaceX just reported Q3 revenue of $14.58B, up 161% fro…
AI is now $SpaceX(SPCX.US)'s biggest business, and it isn't close
SpaceX just reported Q3 revenue of $14.58B, up 161% from a year ago and well above the $12.72B Wall Street expected per LSEGThe AI segment, which SpaceX now calls Super Intelligence, brought in $7.56B. That's up about 9x from $813M a year ago and ahead of the $6.47B estimateStarlink connectivity revenue rose 69% to $5.25B as subscribers climbed to 13.6M from 12M last quarterSpace (rockets) did $1.8B vs $1.46B expectedNet income came in at $4.4B vs a $1.05B loss a year ago, and adjusted EBITDA jumped 306% to $8.81BThe catch is the spending. Capex hit $19.59B in the quarter, and $16.44B of that went to AI$SpaceX(SPCX.US) rose about 1.5% after hours per CNBC, on a company worth roughly $2TA rocket company is now mostly an AI compute business. Starlink pays the bills, but AI is where both the growth and $16B a quarter of capex are going, and that's what the market will be pricing from here onSource: StockMarket.News
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