SpaceX is spending more than ever on AI. Its AI business is also bringing in more than Starlink for the first time.
Source: Business Insider ·
SpaceX's AI spending was lower than Wall Street expected but higher than the company spent the quarter before.
From the source
A SpaceX facility in Hawthorne, California.Justin Sullivan/Getty ImagesSpaceX's earnings reveal growing capex as well as AI revenue that surpassed its Starlink business for the first time.The company reported overall capex spending in line with estimates.AI-related spending was slightly less than expected but still more than previous quarters.SpaceX's second-ever earnings report revealed it's spending more than ever on AI.SpaceX reported spending $16.4 billion on AI-related capex in the third quarter, continuing the acceleration of AI spending seen in recent quarters.SpaceX spent roughly $19.6 million on overall capital expenditures in the third quarter as Grok maker continues its AI buildout. That was squarely in line with what Wall Street analysts were expecting.Of that $19.6 billion, SpaceX reported spending $16.4 billion on AI-related capex. Analysts were expecting $16.9 billion.SpaceX's AI revenue grew significantly quarter-over-quarter to $7.6 billion — ahead of analysts'…