The Newshound

Elon Musk's SpaceX beats Wall Street forecasts with a 161% revenue jump to $14.58bn, driven by AI data centres

Elon Musk's SpaceX beats Wall Street forecasts with a 161% revenue jump to $14.58bn, driven by AI data centres

Net profit reached $4.4bn, nearly triple the $1.57bn analysts had pencilled in, compared with a $1.1bn loss a year earlier. AI revenue rose more than ninefold to $7.6bn, mostly from renting computing power to Anthropic, Google and Reflection AI. The bill was steep: AI swallowed $16.4bn of $19.6bn in capital spending. Shares climbed in after-hours trading.

Elon Musk backed a SpaceX-Tesla merger: 'Do I think it would be a good idea? Yes.'

Starlink's connectivity arm brought in $5.2bn and is now second to AI.

Musk boasted that '$1T in SpaceX revenue in 2028 is no longer impossible'.

MoreThe GuardianSpaceX’s revenue jumps in second-ever earnings report amid Starlink turmoilThe IndependentSpaceX quarterly revenue beats estimates as AI and Starlink growFinancial TimesSpaceX’s data centre deals boost revenue by 161%NY PostSpaceX stock soars on blowout earnings that see revenue surge 161% — as Musk talks Tesla mergerReutersSpaceX quarterly revenue jumps, beats estimates as AI business surgesNYTSpaceX Swings to a Profit, Even as A.I. Spending SoarsYahoo FinanceSpaceX tops Q3 estimates as revenue surges 161% on Starlink, AI compute expansion - Yahoo Finance
Read today's full feed at The Newshound →