SpaceX Q3 Revenue Soars 161% To $14.58 Billion As Musk Eyes $1 Trillion By 2028 | Video
New Delhi: Elon Musk-backed SpaceX has reported quarterly results, powered by explosive growth in its artificial intelligence business and rising demand for data-centre capacity with revenue rising 161 per cent to $14.58 billion year-on-year in the third quarter. Also Watch: Following the earnings, the company's shares jumped more than 8 per cent in extended trading. The company's AI unit -- now…
Elon Musk's SpaceX has announced a remarkable 161% surge in revenue, reaching $14.58 billion in the third quarter, bolstered by a booming artificial intelligence sector and increased demand for data-center capacity. The company's AI unit, Super Intelligence, generated an impressive $7.56 billion, nearly ten times the revenue from the same period last year.
This growth has attracted major AI developers such as Anthropic, Google's Alphabet, and Reflection AI. Capital expenditure nearly tripled, reaching $19.6 billion year-over-year, as SpaceX continued to expand its computing capacity. Despite this, the company reported a net income of $4.4 billion, a significant turnaround from a loss of approximately $1.1 billion the previous year.
Starlink, SpaceX's connectivity segment, saw a 69% increase in revenue to $5.25 billion, with subscriber numbers surging to 13.6 million. Musk also suggested a potential merger between SpaceX and electric-vehicle manufacturer Tesla, and he projected SpaceX's annual recurring revenue to grow between $500 billion and $1 trillion by the end of 2028, highlighting the increasing demand for AI infrastructure.
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