SpaceX’s AI business is beating expectations
SpaceX hit profitably in the third-quarter, with net income of $4.4 billion. AI was the engine.
AI Summary
SpaceX's shift towards artificial intelligence has resulted in its AI division, including Grok agents and data centers, becoming unexpectedly profitable, contributing 52% to its revenue. The company reported $14.6 billion in third-quarter revenue, with significant growth in its "Super Intelligence" business and a net income of $4.4 billion, a recovery from a $1 billion loss the previous year. Capital expenditures totaled $19.6 billion as the company expands its data center capabilities and invests in the Starship program.