NVIDIA Wins Exclusive SpaceX Pact For Space-Based AI Servers
SpaceX set off some financial fireworks in the markets after reporting a surge in quarterly revenue alongside an exclusive hardware commitment with NVIDIA, even as rising capital expenditures temporarily weighed down its stock.
Despite SpaceX narrowing its second-quarter net loss to $0.09 per share from $0.34 a year prior, company revenues nearly doubled to hit $7.81 billion. Growth was heavily driven by its growing AI division, where quarterly revenue leaped 213% to reach $2.56 billion. Fueling this expansion are lucrative cloud hosting agreements with major industry players like Google and Anthropic, alongside growing enterprise demand for Grok and X subscriptions.
However, Wall Street delivered a mixed response to the earnings release. SpaceX shares tumbled nearly 10% in pre-market trading, largely spooked by an extraordinary spike in capital expenditures. Spending exploded from $2.83 billion to $18.37 billion over the last 12 months, with direct AI infrastructure outlays surging more than twenty-fold...
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