SpaceX revenue rockets while AI spending burns billions
AI AND ML
Investors balk as quarterly capex climbs to $18.4B
SpaceX beat revenue forecasts in its first results as a public company, but surging AI expenditure and another quarterly loss left investors unimpressed.
In unrelated but appropriately-timed space news, a discarded SpaceX rocket body is believed to have struck the Moon this morning.
SpaceX's figures show revenue rising sharply across its two main segments. For the quarter ended June 30, total revenue reached $7.8 billion, up from $4.7 billion in the previous quarter. Connectivity revenue increased from $3.3 billion to $4.3 billion, while AI revenue jumped from $818 million to $2.6 billion.
Capital expenditure jumped from $10.1 billion in the first quarter to $18.4 billion in the second, with AI infrastructure accounting for $15.8 billion.
Connectivity, which includes Starlink, remained SpaceX's only profitable operating segment, although losses from AI operations fell to $1.3 billion for the quarter ending June...
Copyright of this story solely belongs to theregister.com. To see the full text click HERE
