SpaceX (SPCX) is becoming an AI giant faster than expected. It is also spending like one.
The company's first quarterly report as a public company showed its AI business growing rapidly and swinging to an adjusted profit. But ****** eX spent nearly $16 billion on AI infrastructure during the quarter — more than six times the segment's revenue.
That advances a shift visible before the IPO. ****** eX entered the public market with a rocket company reputation, but its own filings pointed investors toward AI.
That helped push companywide revenue to $7.8 billion, up 92% from a year ago and well above Wall Street estimates. Adjusted EBITDA reached $3.5 billion, nearly triple the prior-year level.
The cash picture remains far less forgiving.
#company
The company's first quarterly report as a public company showed its AI business growing rapidly and swinging to an adjusted profit. But ****** eX spent nearly $16 billion on AI infrastructure during the quarter — more than six times the segment's revenue.
That advances a shift visible before the IPO. ****** eX entered the public market with a rocket company reputation, but its own filings pointed investors toward AI.
That helped push companywide revenue to $7.8 billion, up 92% from a year ago and well above Wall Street estimates. Adjusted EBITDA reached $3.5 billion, nearly triple the prior-year level.
The cash picture remains far less forgiving.
#company
1 day ago
