SpaceX’s AI business is beating expectations

SpaceX reported stronger than expected results from its artificial intelligence business, which now accounts for 52% of company income. The shift towards AI marks a major change for the company, whose growth is increasingly tied to data centres and computing infrastructure as well as its space operations.

In the third quarter, SpaceX recorded $14.6 billion in revenue, including $7.5 billion from its “Super Intelligence” business and $431 million in AI profit. Net income was $4.4 billion, compared with a $1 billion loss a year earlier, although the company spent $19.6 billion on capital projects and plans $35 billion to $40 billion in further investment in the fourth quarter. Starlink had 13.6 million subscribers, while Musk said SpaceX is expanding data-centre capacity and expects a Starship test flight in November.