SpaceX reports its initial profits as a publicly listed company
According to the third-quarter results released on Tuesday, SpaceX reported a nine-figure operating profit from its artificial intelligence division. Starlink also expanded further, as a purchase related to AI helped boost revenue.
SpaceX announced revenues of $14.6 billion, signifying a 161% increase from the previous year, and a net profit of $4.4 billion, representing a $5.5 billion enhancement compared to the $1.1 billion net loss noted during the same quarter last year. These represent the initial profits of the company as a publicly listed organization.
Income from artificial intelligence, termed «superintelligence» by SpaceX, hit $7.6 billion. This indicates an 830% increase from last year, as the segment reported an operating profit of $431 million.
SpaceX acknowledged $1.2 billion in stock compensation resulting from its $60 billion purchase of Cursor, an AI-driven programming platform.
During the third quarter, Starlink’s subscriber count increased by 1.6 million, totaling 13.6 million. Revenue from connectivity services increased 69% compared to the previous year, reaching $5.2 billion.
SpaceX’s capital spending reached $19.6 billion for the quarter. SpaceX shares ended Tuesday slightly lower, closing at $147.79. After the financial results were released, the company’s stock increased by over 4% in after-hours trading.
1.4%. This represents the drop in SpaceX stock since its public offering in June, starting at $150 per share.
We estimate that Elon Musk’s net worth is $925 billion, which makes him the richest person globally.
