SpaceX says big AI growth fueled revenue jump
Jay Peters is a senior reporter covering technology, gaming, and more. He joined The Verge in 2019 after nearly two years at Techmeme.
SpaceX announced revenues of $14.6 billion in its Q3 earnings on Tuesday, which it says was a growth of 161 percent year-over-year “fueled by our Super Intelligence (SI) segment and accelerated growth in Connectivity.” While its Space division posted a $7 million loss in income from operations, its Connectivity group posted income from operations $2.4 billion and its SI group posted $431 million.
The company’s so-called “SI” businesssaw revenues of $7.6 billion, which were up 830 percent year-over-year, “primarily driven” by “the activation of new cloud services agreements, the acquisition of Cursor, and increased Grok adoption across enterprise customers and consumers.” For its Connectivity business, SpaceX reported revenues of $5.2 billion and 13.6 million Starlink consumer subscribers. Space business revenues were $1.8 billion, up six...
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