AI just saved SpaceX: record $14.6B quarter, possible merger
Article excerpt
SpaceX just reported $14.6 billion in quarterly revenue and the first profit in its history, and the surprise is where the money came from: AI. Host Ejaaz Ahamadeen breaks down how SpaceX became the number one neocloud renting compute to Anthropic and Google, the power bottleneck, the potential Tesla merger, and what could still go wrong. I amExcited. SpaceX 4 months ago had the largest, most expensive IPO in history, and half of Wall Street basically wrote them off. They called the company massively overvalued, and yet last night they reported their quarterly earnings and a massive $14.6 billion in revenue in a single quarter. That is more money than they made in the entirety of last year, but what's most interesting is how they made that money. SpaceX, as its name suggests, is a space company, yet they made the majority of.Their money through AI. Their business line has tripled over the last 3 months, eclipsing Starlink for the first time ever. And the reason why they've been able to pull this off is because they've become the #1 Neocard, the #1 provider of compute to some of the biggest labs and companies in the world, including Anthropic and Google, selling billions of dollars' worth of compute per month. And it turns out, compute is an incredibly lucrative business. Elon Musk is projecting $500 billion to $1 trillion of ARR next year in one.2027, but don't just take his...
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But something happened in the last couple of months that changed all of it, and it was a simple pivot by Elon Musk, which was they acquired XAI.