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Elon Musk's SpaceX swings to a $4.4bn profit as revenue jumps 161% on its AI and Starlink businesses

Elon Musk's SpaceX swings to a $4.4bn profit as revenue jumps 161% on its AI and Starlink businesses

AI revenue rose more than ninefold to $7.6bn, earned mainly by renting data-centre capacity to Anthropic, Google and Reflection AI. Quarterly takings hit $14.58bn against the $12.72bn Wall Street expected. A year ago the firm posted a $1.05bn loss. Capital spending nearly tripled to $19.6bn, with AI swallowing $16.4bn of it.

Shares rose around 3% in after-hours trading once the figures landed.

The first paying Starship mission put 26 Starlink V3 satellites into orbit.

Investors want Musk's view on a Tesla merger before Tesla's results on Wednesday.

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%ReutersSpaceX 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
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